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  • SOCAR acquires Esso Switzerland from ExxonMobil
    édité le 18/11/2011 - Plus de news de "Socar" - Voir la fiche entreprise de "Socar"

SOCAR acquires Esso Switzerland from ExxonMobil
On November 16, SOCAR signed a Sale and Purchase Agreement with ExxonMobil Central Europe Holding GmbH for the share sale of ExxonMobil’s Swiss affiliate, Esso Schweiz GmbH. Via its newly established Swiss downstream division, SOCAR Energy Switzerland, SOCAR intends to continue the business operations of Esso Switzerland and to provide on-going high quality services for the company’s customers, employees, contractors and partners.

During a transition period, which is expected to complete in the third quarter of 2012, Esso Switzerland will continue to operate under the Esso brand. All current business processes and contracts remain unchanged. With this transaction, SOCAR plans to build up a fully functional organization in Switzerland run from Zurich.

Support services to the business formerly located outside the country will be built up in Switzerland. SOCAR’s aim is to ensure flawless operations of the acquired network and to create a highly accepted brand in Switzerland.

The Esso brand will remain in place on retail sites for up to 12 months following change in control (CIC) in order to facilitate SOCAR’s transition to a new retail brand. De-branding of the aviation business as well as trucks and product tanks will occur within thirty days of CIC. The re-branding of Esso Switzerland retail sites will commence following completion of the transitional period. SOCAR will stand for top quality, excellent customer service and high environmental and management standards. SOCAR President Rovnag Abdullayev comments: “SOCAR will offer automotive customers in Switzerland excellent retail services with its top quality fuels and convenience store sites across the country.

Furthermore SOCAR will be a reliable partner for heating oil and bottled gas distributors as well as for industrial and aviation customers.” The acquisition of Esso Switzerland by SOCAR includes a retail station network with more than 170 service stations (63 company owned).

SOCAR will also acquire the Industrial & Wholesale fuels marketing division, which includes significant volumes of heating oil and bottled gas sales to independent distributors across Switzerland as well as a gas bottling plant in Wangen bei Olten and the fully owned reseller Deville Mazout Sarl in Geneva. Also included in the transaction is the Aviation business at two Swiss airports (Geneva and Zurich) and the relevant Aviation Joint Ventures (JV) shares, as well as the Swiss Supply & Distribution business with its terminals and pipeline JV shares.

Origine : Communiqué Socar

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