ENEOS Holdings signed share purchase agreements with several Chevron subsidiaries to acquire 100% of Chevron's downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia for $2.17 billion.
The deal also includes the acquisition of a 50% non-operated interest in the Singapore Refining Co. from Chevron Singapore, according to a company release on Thursday.
The acquisition will be carried out through a special purpose vehicle incorporated in Singapore.
The transaction is slated to complete by 2027 and is subject to regulatory approvals, the filing said.