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Aramco Finalizes Acquisition of Esmax

This milestone transaction marks Aramco's first foray into the downstream retail segment in South America.

By Inc.Arabia Staff
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Saudi Aramco, a global leader in energy and chemicals, has concluded the acquisition of Esmax Distribución SpA Esmax, a diversified downstream fuels and lubricants retailer in Chile.

Following the acquisition, Aramco now holds a 100% equity stake in Esmax. Esmax boasts a wide-ranging national presence encompassing retail fuel stations, airport operations, fuel distribution terminals, and a lubricant blending plant.

This milestone transaction, unveiled in September 2023, marks Aramco's first foray into the downstream retail segment in South America.

In January, Aramco announced its intentions to inject an additional $4 billion into its global venture capital wing, Aramco Ventures.

It was reported in February that Saudi Arabia is considering a follow-on offering in Aramco.

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