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Update: ENEOS to Acquire Chevron's Asia-Pacific Downstream Assets in $2.17 Billion Deal

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(Updated to add ticker for ENEOS in the first paragraph)

ENEOS Holdings (TYO:5020) 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.

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