Primax goes to Colombia

Primax goes to Colombia

M&A Corporate & Sovereign Strategy Colombia Peru

Primax, a service station chain based in Peru, has acquired 95.7% of Distribuidora Andina de Combustibles and entered the Colombian market with 740 filling stations. Terpel, the Colombian subsidiary of the Chilean energy company Copec, bought Distribuidora Andina de Combustibles in March as part of a COP2.09tn ($655m) acquisition of ExxonMobil's fuels and lubricants businesses in Peru, Colombia and Ecuador. Colombia's anti-trust agency, however, gave Terpel nine months to sell the gas stations.

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