The Firm represented Compañía de Petróleos de Chile Copec S. A., a fully owned subsidiary of Empresas Copec S.A. (“Copec”), in an agreement with ExxonMobil to acquire ExxonMobil’s fuels and lubricants distribution business in Colombia, Peru and Ecuador, and to acquire all related assets, valued at US$747 million. Under the terms of the agreement, Copec will take control of ExxonMobil Andean Holding LLC and its subsidiaries, including plants and industrial installations, as well as ExxonMobil Ecuador.
Copec is a diversified industrial holding company that is engaged in several industries, including fuels, forestry and fishing.
The Simpson Thacher team included David Williams, Borja Marcos, Matthew Schwartz, Juan Carlos Balmaceda and Matías Anchordoqui (M&A); George Davis (Tax); Marcela Robledo (IP); Michael Isby and Timothy Mulvihill (Environmental); and David Rubinsky and Jennifer Pepin (ECEB).