As per reports, Chevron Australia Downstream Pty Ltd., an entirely owned subsidiary of Chevron Corporation (CVX) announced the acquisition of Puma Energy (Australia) Holdings Pty Ltd from Puma Energy Asia Pacific B.V. comprising of all shares and equity interest for AU$425 million. The acquisition adds to the list of more than 360 company-owned and retailer-owned service stations, owned or leased seaboard import terminals, fuel distribution depot, and a commercial and industrial fuels business to the company’s Australian portfolio.
“This strategic acquisition further integrates our value chain in the Asia Pacific region by providing a well-developed infrastructure for products from our Asian refining joint ventures in an attractive market,” stated Mark Nelson, Chevron’s executive vice president for Downstream & Chemicals. “We are excited to welcome Puma Energy’s employees into the Chevron family. Once we satisfy current licensing commitments in Australia we look forward to extending the Caltex family of brands across the continent.”
Dow 30 component Chevron Corporation (CVX), through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. To learn more about Chevron (CVX) and to track their progress please visit the Vista Partners Chevron Page.
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