Bloomberg quoted sources on Thursday (July 10) as saying that Yashida defeated other global competitors in the bidding and became the most likely potential buyer to stand out. It is currently in-depth consultations on details such as transaction pri...
Bloomberg quoted sources on Thursday (July 10) as saying that Yashida defeated other global competitors in the bidding and became the most likely potential buyer to stand out. It is currently in-depth consultations on details such as transaction price and structure.
According to people familiar with the matter, Yashida is currently in exclusive negotiations with ExxonMobil to acquire its gas station in Singapore.
ExxonMobil declined to comment on the above news, while Yashida has not responded yet.
Recently, Yashida has been very active in asset mergers and acquisitions, acquiring Shell's refining and chemical assets in Singapore in April this year; a month later, it also acquired Chevron Phillips Singapore Chemicals, which owns and operates a polyethylene manufacturing facility in Jurong Island.
According to ExxonMobil's website information, the company has been in Singapore for more than 130 years. In addition to the gas station, it also owns an oil refinery, chemical and lubricating oil plant, as well as a fuel terminal and liquefied petroleum gas filling plant.
Yasida is a joint venture between Indonesian Chandra Asri Group and Swiss commodity trader Glencore.
Bloomberg reported last year that ExxonMobil is working with a consulting company to plan to sell its 59 gas stations in Singapore, with a transaction price of about $1 billion. The people familiar with the matter also said at the time that ExxonMobil could use this to deploy more funds in areas with higher potential.
