IFLR1000

Copec acquisition of Fuel and Lubricant Businesses from ExxonMobil

19/12/2016
Public acquisition
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$ 747 million

Completed

19/12/2016

Overview:

  • Compañía de Petróleos de Chile Copec, a Chilean subsidiary of Empresas Copec, has acquired the fuel and Lubricant Businesses of ExxonMobil in Colombia, Peru and Ecuador. 
  • The value of the assets are estimated to be $747 million. 
  • The transaction should close in 2017.
  • Copec is expecting to resell the fuel business in Colombia after the transaction closes.  

Rani Mehta - Journalist 

Jurisdictions:

Colombia
Ecuador
Peru

Deal type:

Public acquisition

Practice area:

M&A

Industry sector:

Oil and gas

Firms:
CMS Grau

Party: Copec (Acquirer)

Lawyer: Michelle Barclay

Corral Rosales

Party: Copec (Acquirer)

Lawyer: Xavier Rosales

Gómez-Pinzón

Party: Exxon Mobil (Seller)

Pérez Bustamante & Ponce

Party: Exxon Mobil (Seller)

Lawyers: Diego Pérez-Ordóñez, Juan Manuel Marchán-Maldonado

Rodrigo Elías & Medrano Abogados

Party: Exxon Mobil (Seller)

Lawyers: Alejandro Manayalle, Luis Carlos Rodrigo Prado, Oscar Benavides

Shearman & Sterling

Party: Exxon Mobil (Seller)

Simpson Thacher & Bartlett

Party: Copec (Acquirer)

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