Switzerland-based oil company Puma Energy LLC said today it had agreed to buy Australian fuel retailer Ausfuel Pty Ltd from private equity firm Archer Capital Pty Ltd and minority stakeholders for an undisclosed sum.
The deal, which follows the purchase of Australian fuel marketer Neumann Petroleum Group Pty Ltd, is in line with Puma Energy’s plan to expand its operations in the country. It will bring 110 retail sites and 11 depots to the buyer’s portfolio, creating Australia’s biggest independent fuel retailer, Puma Energy, which is majority-owned by Dutch commodity trader Trafigura Beheer BV, said. The addition will also expand the company’s geographic reach to Western Australia, Northern Territory and South Australia.
According to the Australian Financial Review, the value of the transaction is between AUD625m ($651.6m/€478m) and AUD650m.
Morgan Stanley (NYSE:MS) advised Archer, whereas Puma Energy took counsel from RFC Ambrion.