In a landmark transaction in the South American fuel sector, Grupo Romero announced the sale of 80% of its Primax subsidiary to Honduran conglomerate UNO Corp, an operation that gives the Central American company majority control of one of the most important networks of service stations in Peru, Ecuador and Colombia.
The agreement, signed on Thursday, includes all of Primax's operations in the three countries, which implies that UNO Corp will assume the management of hundreds of service stations and distribution centers, consolidating its presence in strategic markets in the region.
Despite ceding majority control, the Romero Group will retain 20% of Primax's shares, thus securing a minority and strategic stake. This decision responds to the Peruvian group's intention to diversify its investments in other sectors without completely dissociating itself from the fuel business.
UNO Corp expansion in South America
According to RPP, the acquisition is the result of a lengthy evaluation and negotiation process. The purchase of Primax represents for UNO Corp a key step to strengthen its position in the Andean region, diversifying its portfolio and positioning itself as a relevant player in the competition in the energy sector.
Full story Grupo Romero sells 80% of Primax to UNO Corp
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