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Vitol to Acquire 50% of Grupo Dislub Equador

Source: www.gulfoilandgas.com 7/31/2019, Location: South America

Vitol and Grupo Dislub Equador (“GDE”) have entered into a long-term strategic partnership to build a leading downstream company in Northern Brazil. As part of this agreement, Vitol will acquire 50% of GDE, which owns the sixth largest branded service station network in Brazil and has sales of circa 1.4 billion litres of fuel per annum, for an undisclosed sum.

The transaction will enable the parties to build on GDE’s strong regional presence of 430 branded service stations, extensive customer network and supporting infrastructure, including 210,000 cubic meters of import storage, across 15 states. Its customers will benefit from increased investment in the business and a new, efficient and quality source of supply.

“This will be a big step for the GDE group. We intend to reach new markets while consolidating our presence in the territories where we already operate and strengthening our company to cope with the challenges that the Brazilian market is set to experience,” said Sergio Lins, shareholder of Dislub Equador Group.

Russell Hardy, Group CEO, Vitol said; “We are excited by Brazil’s potential. Grupo Dislub Equador has a strong footprint in Brazil’s fastest growing regions, and is well placed to serve Brazil’s growing and increasingly competitive market. We look forward to working with the team to capture growth opportunities and strengthen the business further.”

The transaction is subject to certain conditions precedent, including regulatory approvals, and is expected to close in Q4.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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