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On June 20, 2024, the Colombian subsidiary Organización Terpel S.A. (“Terpel”) disclosed, by means of a Relevant Information to the market, that its Board of Directors, in use of its statutory powers, approved and, consequently, entered into the following operations:
Terpel reported that the buyers of the aforementioned transactions will be CORPORACION PRIMAX S.A. and COESTI S.A. in Peru, and PRIMAX COMERCIAL DEL ECUADOR S.A. in Ecuador, which will acquire it for a total of USD$64,000,000.
According to Terpel, the decision to sell reflects Terpel’s interest to focus on the businesses with the greatest growth and profitability potential in each of the markets where it operates.
All the operations indicated are subject to the approval of the relevant authorities in each country.
Finally, Terpel stated that it will continue to distribute Mobil lubricants in Ecuador and Peru, and, likewise, will continue with the sale of aviation fuels and the wholesale of liquid fuels for vehicles in Peru and Natural Gas for Vehicles (NGV) for mass transportation in its capital city, bringing the value proposition of these segments to consumers and strengthening its leading position in the market.