The agreement includes the continuation of the sale of butane, propane and LPG under the Cepsa brand in Spain and Portugal.
Cepsa sells its butane, propane and LPG (Gasib) subsidiaries to Abastible SA, a subsidiary of the Chilean Empresas Copec group and a leader in the liquefied petroleum gas business in Latin America.
Under the agreement, Gasib will continue to offer its butane, propane and LPG products under the Cepsa brand in the markets in which it operates (Spain and Portugal), maintaining synergies with the company in the manufacture and distribution of these products at service stations.
“This transaction is a further step in our strategy to become a benchmark in the energy transition and to drive investments in sustainable energies such as green hydrogen and biofuels. We expect these business areas to account for more than half of our activity by 2030,” said Maarten Wetselaar, CEO of Cepsa.
For Abastible, this operation represents a major new investment – for the first time in Europe. It places the company among the top 10 in the LPG industry worldwide and strengthens its leadership position in Chile, Colombia, Ecuador and Peru.
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