In a significant move in Thailand’s petroleum sector, Bangchak Corporation has secured a resounding acquisition of Esso Thailand. ExxonMobil Asia Holdings’ relinquishing of a 65.99% majority stake to Bangchak marks the completion of this transaction. As a consequence of this development, around 700 Esso petrol stations throughout the country will commence operations under Bangchak’s brand, starting tomorrow.
Chaiwat Kovavisarach, the Group CEO and President of Bangchak, confirmed that the company had successfully completed the acquisition, with the monetary value of the ordinary shares of Esso pegged at 22.6 billion baht.
This acquisition signifies the culmination of Esso’s 129-year operation in Thailand. In the wake of this transition, a comprehensive rebranding of all Esso’s petrol stations as Bangchak’s is…
