Copec’s Abastible announces the acquisition of LGP operations in Peru and Ecuador

Abastecedora de Combustibles S.A., Abastible, has agreed with Repsol S.A. the acquisition of the latter’s LPG operations in Peru (Solgas) and Ecuador (Duragas), not including Repsol’s activities in the LPG auto retail business.

With this new acquisition Abastible becomes the third largest LPG player in South America. Under the terms of the agreement, Abastible will pay US$327 million.

The operation in Peru has around 26% market share and sells approximately 570 th. ton a year. Its enterprise value considered in the transaction amounts to PEN980 million (US$294 million).

The operation in Ecuador has approximately 37% market share and sells 405 th. ton a year. Its enterprise value is US$33 million.