Impala Terminals has acquired infrastructure assets and operations from Puma Energy's Paraguay business for $200 million.
Puma says that it will use the proceeds of the sale to pay down debt in line with its capital management policy.
Emma FitzGerald, CEO of Puma Energy, says: 'This transaction is a positive step forward in Puma Energy's commitment to optimizing our global portfolio and deleveraging our balance sheet by the end of 2020.'
Impala Terminals owns and operates a network of terminals and fluvial operations in Spain, Mexico, Paraguay and Peru.
Nicolas Konialidis, CEO of Impala Terminals, adds: 'This transaction is an excellent opportunity to expand our Impala Terminals portfolio with refined products assets in South America, which complement our existing portfolio of fluvial assets on the Paraná-Paraguay River.'
The transaction is expected to close by January 2020.
A storage innovation pioneerOil price showing remarkable resilience A long road ahead A tipping point: what does climate action look like? The European green deal: changing the storage industry The storage outlook Simulation software: prevention with precision Managing the five stages of project grief Why it pays to line the inside of a storage tank Managing the entire construction lifecycle