Puma Energy announces sale of Puma Energy Australia Fuels business to Chevron
19 Dec 2019
Singapore, 19 December 2019 – Puma Energy Asia Pacific B.V. (“Puma Energy” or the “Company”) today announces the sale of its Australian commercial and retail fuels business to Chevron Australia Downstream Pty Ltd (“Chevron”), for a purchase price of $AUD425 million.
The transaction is expected to complete by mid-2020.
Puma Energy’s priority is to ensure a transparent and seamless transition of operations to Chevron for all employees, customers and business associates in Australia. The Puma Energy bitumen business in Australia is not impacted by this transaction and Puma Energy will continue to invest to enhance its service to bitumen customers.
Puma Energy expects to use the proceeds of the sale to pay down debt, in line with the Company’s capital structure policy.
Emma FitzGerald, CEO of Puma Energy, said:
“This transaction marks another positive step forward in Puma Energy’s commitment to optimise our global portfolio and deleverage our balance sheet by the end of 2020. This follows the sale of our business operations in Indonesia and Paraguay, enabling us to pay down our debt and ensure we’re focused on those markets which will drive growth as part of our customer-focused five-year strategy.”
BofA Securities acted as financial adviser to Puma Energy, and Allens as legal adviser. This announcement contains inside information under Article 17 of Regulation (EU) 596/2014 (16 April 2014).
- ENDS -
For press queries, please contact:
Elizabeth Adams | Genevieve Ryan
Tel: +44 (0) 20 3727 1000
For investor queries, please contact:
Further information can be located at: https://www.pumaenergy.com/en/investor-relations/home/
About Puma Energy
Puma Energy is a leading global energy business with a customer-focused approach to safely providing energy solutions in 46 countries across six continents. Puma Energy has around 3,000 retail sites, a presence at over 80 airports and a network of 100 storage terminals. Our purpose is to energise communities to help drive growth and prosperity by sustainably serving our customers’ needs in high potential countries around the world.
For further information visit: www.pumaenergy.com
This announcement is not being made in and copies of it may not be distributed or sent into any jurisdiction where distribution would be unlawful.
Some of the information included in this announcement contain forward-looking statements. You can identify these forward-looking statements by use of words such as “strategy,” “expects,” “continues,” “plans,” “anticipates,” “believes,” “will,” “estimates,” “intends,” “projects,” “goals,” “objectives,” “guidance,” “targets,” “forecasts” or “could”, the negative of such terms and other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts. Although Puma Energy believes that the assumptions upon which these forward-looking statements are based are reasonable, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. The matters discussed in these forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results and trends to differ materially from those made, projected, or implied in or by the forward-looking statements depending on a variety of uncertainties or other factors. Accordingly, no representation or warranty, express or implied, is made or given by or on behalf of Puma Energy or any of its directors, officers or employees or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this announcement. Accordingly, no representation or warranty, express or implied, is made or given by or on behalf of Puma Energy or any of its directors, officers or employees or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this announcement.