Aramco has agreed to buy fuel distributor Primax, which has operations in Peru, Colombia and Ecuador, Peruvian newspaper Gestion reported, citing sources familiar with the deal.
Primax, owned by Peruvian conglomerate Grupo Romero, has 2,185 gas stations in the three South American countries. The deal with Aramco included a payment of around $3.5 billion, Gestion said.
The Saudi oil giant already has businesses in Peru, where it last year purchased a minority stake in Peru LNG from Hunt Oil Company. -Reuters