SAN RAMON (dpa-AFX) - ENEOS Holdings, Inc. (JHJ.F, 5020.T), a Japanese petroleum and metals conglomerate, said on Thursday that it has inked deals with various indirect subsidiaries of Chevron Corporation (CVX) to acquire Chevron's downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia for $2.170 billion.
The parties expect the transaction to close in calendar year 2027.
Miyata Tomohide, CEO of ENEOS Holdings, said: 'This investment represents a significant step in strengthening the business platform that connects Japan with Southeast Asia and Oceania, while bringing together the competitive strengths developed across each market to advance our Group's growth to the next stage.'
Through the special purpose vehicle, ENEOS will acquire the equity interests in Chevron Singapore Pte. Ltd., including its interests in SRC and Chevron Lubricants Vietnam Ltd., Chevron Malaysia Limited, Chevron Philippines Inc., Chevron Australia Downstream Holdings Pty Ltd, and PT Chevron Oil Products Indonesia.
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