Valero Acquires Pure Biofuels del Peru
SAN ANTONIO,— Valero Energy Corporation announced that, through certain of its subsidiaries, it has acquired Pure Biofuels del Peru S.A.C. (“PBF”) from Pegasus Capital Advisors L.P., PBF management, and its minority shareholders.
PBF, as the third largest fuels importer in Peru, maintains a leading supply platform with a diverse group of customers, including retailers, miners, and airlines. The transaction, which was funded with cash, also includes refined products terminals in Callao, near Lima, and in Paita, near Piura in northern Peru.
The Callao terminal has mooring and unloading systems with Panamax vessel capability,
The acquisition also includes land adjacent to the Callao terminal to support future expansion of the terminal’s storage capacity. The Paita terminal, scheduled to commence operations in mid-2018, is also capable of receiving Panamax vessels and will have an initial product storage capacity of 180,000 barrels, with land available for future expansion.
“This acquisition demonstrates our continued interest in expanding international product exports and wholesale fuels volumes,” said Joe Gorder, Valero Chairman, President
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