Previous Story
Spanish company Repsol sells LPG business in Peru and Ecuador to the Chilean company Abastible
Posted On 21 Apr 2016
The Spanish company Repsol announced Wednesday that it sold its liquefied petroleum gas (LPG) business in Peru and Ecuador to the Chilean company Abastible, for an amount of 335 million dollars (296 million euros), reported in Lima the local branch of the Iberian group.
The operations will be closed in the coming months, once the necessary conditions and administrative licenses have been complied, Repsol said in a communiqué, that completes the transfer of its LPG business in Latin America with this operation.
According to the agreement, Abastible will pay 980 million soles (about 302 million dollars / 267 million euros) for the Peru business, and 33 million dollars (29 million euros) for the Ecuadorian business.
Repsol is still present in Peru and Ecuador through its exploration and production activities of hydrocarbons.
