2024-07-07 06:03:39
The company Terpel, specialized in the distribution of fuels such as gasoline and diesel, announced on June 20, 2024 its decision to sell its operations in Ecuador and Peru. This announcement was communicated to the Colombian Financial Superintendence, highlighting that the sale is in line with a plan to focus on businesses with greater growth and profitability potential.
The statement specifies that Terpel sold 100% of its stake in Terpel Comercial Ecuador, dedicated to service stations and convenience stores, and 100% of the assets of Terpel Perú and Terpel Comercial Perú, which operate liquid fuel and Natural Gas for Vehicles (NGV) stations. The sales were made to the company Primax in Ecuador and to Primax and Coesti in Peru for a total of USD 64 million. However, the completion of these transactions is subject to the approval of the competent authorities in both countries. Until such approvals are granted, Terpel will continue to operate the businesses.
In Ecuador and Peru, Terpel will continue to sell Mobil lubricants and maintain the marketing of aviation fuels and the wholesale business of liquid fuels and NGV for mass transportation in Lima. In 2023, Terpel Comercial reported sales of USD 672 million, while Primax reached a turnover of USD 1.23 billion, ranking as the fifth company with the highest sales in Ecuador. PRIMICIAS attempted to obtain comments from the Superintendency of Economic Competition on this operation, but did not receive a response at the time of publication.