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Bangkok Post
Bangkok Post
Business

Bangchak finalises B8.91bn acquisition of Chevron HK

Bangchak Chevron Chaiwat Kovavisarach Oil Bangchak Corporation Hong Kong North Asia Caltex
Mr Chaiwat (right) at the asset handover ceremony in Hong Kong following Bangchak's acquisition of Chevron Hong Kong.

Energy conglomerate Bangchak Corporation has completed its acquisition of Chevron Hong Kong, a move the company believes will strengthen its foothold in North Asia despite mounting challenges in the oil retail sector.

The deal, valued at US$270 million (8.91 billion baht), was finalised on June 30 and gives Bangchak full ownership of Chevron Hong Kong's operations.

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