Brdgetown.
Simpson Oil Limited (SOL) is buying Exxon Mobil its affilates in Barbados and six other regional territories.
Country Manager or Esso Barbados Cally Boyea last night comfirmed that the agreement between SOL and Exxon Mobil was signed last week.
"I can confirm that Exxon Mobil and its affilates have signed agreements with SOL Investments for the sale of its fuel marketing business", Boyea told the media.
According to Boyea all of Esso major commerical clients and dealers have been informed of the pending change in ownership.
The purchase includes 170 Esso service stations across the Caribbean, its industrial and wholesale operations as wellas marine and aaviation refuelling. It also includes a 14.5 percent share in SRA Oill Refinery located in Martinique
SOL led by Barbadian business mogul Sir Kyffin Simpson, acquire Shell Antilles and Guianas Limited for $400 million in 2004.
The acquistion give the company control over Shell’s retail and commercial fuels business in Barbados, St Lucia, Antigua, Anguilla, Guyana, Suriname, Belize, St Kitts/Nevis, St Vincent, Grenada, British Virgin Islands, Netherlands Antilles and Dominica.
Simpson Motors another of Sir Kyfflin's companies is the holder of the Suzuki franchise in the region.
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