Chandra Asri Finalizes Purchase of Esso Gas Stations in Singapore
Jakarta. Chandra Asri Pacific on Thursday announced the completion of its acquisition of the Esso fuel retail network in Singapore, following the fulfillment of all regulatory approvals and other required conditions.
The company did not disclose the value of the transaction.
“This transaction marks a further step in Chandra Asri Group’s strategy to build an integrated and resilient energy infrastructure platform,” the company said in an official statement.
Chandra Asri added that it would continue to pursue growth opportunities aligned with its long-term business objectives and its commitment to delivering sustainable value for shareholders.
Earlier, Chandra Asri Group Chief Executive Officer Erwin Ciputra said the company’s expansion into Singapore’s fuel retail ecosystem was a strategic move aimed at developing an integrated platform to support regional growth.
“Singapore’s fuel retail network and strong business environment will provide a solid foundation for Chandra Asri to advance as a leader in energy solutions, manufacturing, and transformative infrastructure across Southeast Asia,” Erwin said in October.
Under the transaction, Chandra Asri will retain the Esso brand and continue sourcing branded fuel from ExxonMobil. All customer loyalty points and cards will remain unchanged, and the company will retain all ExxonMobil staff currently operating the business.
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