2023-08-29 08:21:00
‘Bangchak’ (BCP) is close to owning a famous gas station ‘Esso’ (ESSO) following buying direct shares from ‘Exxon Mobil’, an American energy giant. The transaction is expected to be completed by August 31, 2023 and will gradually close Esso pumps. Change the label to Bangchak pump. But did you know that ‘Esso’ and its affiliates have been operating oil business in Thailand for 129 years?
“Bangchak” has received loans of more than 60 billion, enough to gobble up “Esso”, confirming that it does not affect its financial position.
Board “Bangchak” to buy “Esso” from ExxonMobil to propose to the shareholders
BCP closed the ESSO deal, set the table to buy 9.8986 baht per share during 8 Sep. – 12 Oct. ’23.
In the event that Bangchak Corporation Public Company Limited (BCP) acquired Esso (Thailand) Public Company Limited (ESSO) by means of a direct purchase of shares from its major shareholder, ExxonMobil Asia Holding Pte. Son Mobil), an American energy company in the proportion of 65.99% of all sold shares, worth 22,605 million baht.
At the same time, BCP will make a tender offer to purchase all remaining securities (Tender Offer) of ESSO from other shareholders in the proportion of 34.01%, total value of 11,651 million baht.
After the total share purchase of 34,257 million baht is completed, BCP will hold 100% of ESSO in Thailand.
For Esso (Thailand) Public Company Limited is one of the companies in the Exxon Mobil Corporation group (Exxon Mobil Corporation), formerly formed by Standard Oil Company of New York. selling kerosene and vacuum oil company Jointly established Soconi Vacuum Corporation to distribute lubricants. Before going to joint venture with Standard Oil Company (New Jersey) and change the company name to Standard Vacuum Oil Co., Ltd.
Then, in 1965, the name was changed to Esso Standard Thailand Co., Ltd. and the Esso Sriracha Oil Refinery was established. Changed its name to ExxonMobil Exploration and Production Korat Inc.
Until 1996, the company was registered as a limited company. It is a public limited company, which is Esso (Thailand) Public Company Limited, the stock name ESSO before listing on the Stock Exchange of Thailand in 2008.
Currently, Esso (Thailand) Public Company Limited operates a petroleum refinery. and sales of petroleum products Including operating an oil refinery business and aromatics at Sriracha depot network Lubricant products business and 802 Esso gas stations across the country as of the end of 2022.
However, according to information from Esso (Thailand) Public Company Limited, the Company and related affiliates have been doing business in Thailand for approximately 129 years.
Bangkok Bank lends BCP to buy ESSO shares in the amount of 32 billion baht.
After the merger is completed, BCP will be the owner of the Sriracha Refinery. and some oil depots The installed refining capacity (Nameplate Capacity) was increased to 294 hundred thousand barrels per day. from current 1.2 hundred thousand barrels per day Become the largest refinery in Thailand
In addition, gas stations across the country. The number of branches increased to 2,145 branches, divided into 1,343 Bangchak service stations and 802 Esso service stations.
Information and pictures: Esso Thailand, Bangchak, Stock Exchange of Thailand
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