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  • Puma Energy expands operations into Pakistan
    édité le 02/11/2017 - Plus de news de "Puma Energy" - Voir la fiche entreprise de "Puma Energy"

Puma Energy expands operations into Pakistan
Puma Energy, the globally integrated midstream and downstream energy company, has successfully concluded an agreement with the Chishti Group to acquire 51% interest in Admore Gas Pvt. Ltd (Admore).

The agreement was first announced on the 25th August 2017, and closing took place on Tuesday afternoon, 31st October 2017. The new company will be called Puma Energy Pakistan (Private) Ltd.

The acquisition forms part of Puma Energy’s global strategy of disciplined investing in fast-growing markets with a high demand for oil products. Thus offering the opportunity to improve local infrastructure, provide supply security and world-class retail propositions to local consumers. Our joint venture partner has a significant retail network of over 470 sites nationwide. The acquisition will bring Puma Energy’s branded retail sites, lubricants, convenience stores and quality fuel product range to the Pakistan market. This follows Puma Energy’s previous investment in Africa, SE Asia and Latin America.

Puma Energy’s CEO Pierre Eladari said:

“As Pakistan is on a firm growth trajectory; growth which will place increasing demands on the downstream oil sector, it was a natural progression for Puma Energy to expand into the region as our proven business model can deliver value to customers and shareholders alike. Our development in retail will be underpinned by a significant investment programme, in order to develop best-in-class supply chain infrastructure in-country, ensuring the future needs of our retail business partners and public customers can be met. Together with our new partner, we intend to play an important role in the future development of the industry in Pakistan, working closely with our new stakeholders in government, business and the public.”

David Holden, the General Manager of the joint venture, said:

“We have been greatly impressed by the Pakistan market, the strength of our new strategic asset base, its customer portfolio and the potential that can be realised. We believe we can bring further benefits with our global expertise in retail, logistics and our ability to ensure reliable and secure supply of high quality fuels to our customers."

Chishti Group Chairman, Amir Waliuddin Chishti commented:

“We believe partnering with Puma Energy, as a well-established and recognised global brand, will benefit our retail offering and associated business network, connecting Pakistan to the global market and ensuring security of supply for Pakistan’s future growth. We see many opportunities for continued investment in infrastructure and supply to our portfolio of customers.”

About Puma Energy

Puma Energy is a global integrated midstream and downstream oil company active in 48 countries. Formed in 1997 in Central America, Puma Energy has since expanded its activities worldwide, achieving rapid growth, diversification and product line development. The company directly manages over 8,000 employees. Headquartered in Singapore, it has regional hubs in Johannesburg (South Africa), San Juan (Puerto Rico), Brisbane (Australia) and Tallinn (Estonia).

Puma Energy’s core activities in the midstream sector include the supply, storage and transportation of petroleum products. Puma Energy’s activities are underpinned by investment in infrastructure which optimises supply chain systems, capturing value as both asset owner and marketer of product.
Puma Energy’s downstream activities include the distribution, retail sales and wholesale of a wide range of refined products, with additional product offerings in the lubricants, bitumen, LPG and marine bunkering sectors. Puma Energy currently has a global network of over 3,000 retail service stations. Puma Energy also provides a robust platform for independent entrepreneurs to develop their businesses, by providing a viable alternative to traditional market supply sources.

About Chishti Group

Chishti Group is a renowned Pakistani conglomerate with a diversified business presence across several industry sectors including Healthcare, Education, Financial Services and Oil marketing.
The current annual revenue of the Group is above USD 150mn with an employee base of 3,000. In the healthcare and education sectors, the group is successfully running (i) a 300-bed tertiary care hospital providing healthcare facilities, and (ii) the accredited educational institution which is awarding degree programs in MBBS, BDS, Post Graduate and Nursing care.
Its full service brokerage business is a leading player in the Equity, Fixed income and Money Market business and is ranked among the top ten in the country.
Having transformed and turned around three loss making businesses (due to its strong commitment with the country, excellent human capital and unmatched business execution capability), the group acquired Admore in 2014. Since then, with over 470 retail outlets, Admore has witnessed a significant improvement in terms of supply, storage and corporate governance in a very short period of time.

Origine : Communiqué Puma Energy

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