Chevron to sell Uruguay fuel business |
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Thu, 28 Jun 2007 14:19
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NEW YORK (AP) - Chevron Corp. said Thursday it is selling its fuel marketing business in Uruguay to a state-owned petroleum marketing and distribution company.Terms of the deal, involving Chevron Latin America Marketing LLC and Chevron Amazonas LLC as sellers and state-owned DUCSA as buyer, were not disclosed.Chevron said the deal is part of its plan to focus on areas where it has a competitive supply position and strong brand recognition.DUCSA operates under the ANCAP brand. As part of the agreement, 90 of Chevron's Texaco-branded stations will be added to DUCSA's existing retail network in Uruguay and be rebranded as ANCAP.------------------Questions or comments about this story should be directed to the Financial News desk of the Associated Press at 212-621-7190.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Chevron sell fuels marketing business 