A Haiti-based company has announced the acquisition of the Texaco brand gas stations and aviation terminal in the Dominican Republic. Reportedly, GB Group will now operate Chevron Corporation’s assets in Jamaica, St. Maarten and the DR.
Dominican investors are participating in the buyout of Texaco interests in Jamaica, St. Maarten and the Dominican Republic. Marti Petroleum Group, Universal de Seguros and Grupo Bermudez of the Dominican Republic have associated with GB Group of Gulfstream Petroleum for the buyout. The new company will take over the operations of Chevron Caribbean in the DR, as reported in Listin Diario. The Texaco brand has 220 gasoline stations in the three countries, as well as terminals and operations for aviation fuel. GB Group is the main shareholder and will be the managing partner.
The purchase had initially been reported in October 2011.
www.gilbertbigiogroup.com/2011/gb-group-announces-signing-of-purchase-sales-agreement-psa-with-chevron-to-acquire-the-fuels-marketing-and-aviation-businesses-in-the-dominican-republic-jamaica-and-st-maarten/
www.listin.com.do/la-republica/2012/10/31/253322/Empresarios-de-RD-compran-la-Texaco