Aramco to scoop up Chilean fuels retailer Esmax from Southern Cross Group

• Founded in 1998, Southern Cross Group is a private equity firm based in Santiago, Chile
• Southern Cross prefers to invest in Latin American companies

Southern Cross Group has agreed to sell Esmax, a Chilean downstream fuels and lubricants retailer, to Aramco. No financial terms were disclosed.

Aramco is a Saudi Arabia-based energy and chemicals company.

On the deal, Mohammed Y. Al Qahtani, Aramco Downstream President, said in a statement, “This agreement is yet another milestone in our strategy to grow Aramco’s downstream presence globally and expand our retail, lubricants and trading businesses. We are excited by the opportunities it presents, creating synergies with our extensive trading and manufacturing systems.”

Founded in 1998, Southern Cross Group is a private equity firm based in Santiago, Chile. The firm prefers to invest in Latin American companies.