– Saudi Aramco completes the acquisition of Chile’s Esmax Distribución , securing a 100 percent equity stake in the leading downstream fuels and lubricants retailer.

– Esmax boasts a national footprint encompassing retail fuel stations, airport operations, fuel distribution terminals, and a lubricant blending plant, making it a key player in Chile’s downstream market.

– This transaction, Aramco’s first downstream retail investment in South America, underscores the company’s strategic objective of strengthening its downstream value chain and expanding its global retail presence.

Saudi Aramco has successfully finalized the acquisition of a 100 percent equity stake in Chile’s Esmax Distribución , a prominent diversified downstream fuels and lubricants retailer, according to media reports.

Esmax boasts a nationwide presence encompassing retail fuel stations, airport operations, fuel distribution terminals, and a lubricant blending plant.

The transaction, initially disclosed in September 2023, marks Aramco’s inaugural downstream retail investment in South America, underscoring the allure of this market and aligning with the Saudi company’s strategic objective to fortify its downstream value chain.

Yasser Mufti, Aramco’s Executive Vice President of Products & Customers, expressed enthusiasm about finalizing the acquisition of Esmax and anticipates collaborative efforts with the exceptional team in Chile to realize shared aspirations.

Mufti emphasized Aramco’s vision to emerge as a key global retail player, leveraging its top-notch products and services, including Valvoline lubricants, in conjunction with the expertise and quality of an established operator in Chile.