Chevron Agrees to Acquire Puma Energy (Australia) Holdings
December 18 2019 - 7:15PM
Dow Jones News
By Stephen Nakrosis
Chevron Corp. (CVX) on Wednesday said a subsidiary plans to
acquire all shares and equity interests of Puma Energy (Australia)
Holdings Pty Ltd in a deal valued at A$425 million.
Chevron Australia Downstream Pty Ltd signed a conditional share
sale agreement with Puma Energy Asia Pacific B.V., Chevron
said.
Puma Energy (Australia) and its subsidiaries' assets include a
network of service stations in Australia, a commercial and
industrial fuels business, and fuel distribution depots, among
others, Chevron said.
"The acquisition will provide Chevron with a stable market for
production volumes from our refining joint ventures in Asia and
create a foundation for sustainable earnings growth," said Mark
Nelson, Chevron's executive vice president for Downstream &
Chemicals.
The deal is expected to close in the middle of next year.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
December 18, 2019 19:00 ET (00:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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