The Company expects to use the proceeds of the sale to pay down debt
Image: Puma Energy has announced the sale of Puma Energy Paraguay to Impala. Photo: courtesy of rawpixel from Pixabay.
Puma Energy Holdings Pte Ltd. (“Puma Energy” or the “Company”) today announced the sale of its business operations in Paraguay to Impala Terminals Group (“Impala”), a joint venture between Trafigura and IFM Global Infrastructure Fund for a purchase price of U.S. $200 million.
The transaction is expected to close by January 2020.
It is the Company’s priority to ensure a transparent and seamless transition of operations to Impala for all customers and business associates in Paraguay. The business will continue to be operated under the Puma Energy brand name.
The Company expects to use the proceeds of the sale to pay down debt, in line with the Company’s capital management policy.
FitzGerald, CEO of Puma Energy, said:
“This transaction is a positive step forward in Puma Energy’s commitment to optimising our global portfolio and deleveraging our balance sheet by the end of 2020. Puma Energy continues to work closely with all partners across the Americas and remains fully committed to operations in the region.”
Source: Company Press Release