Esso Thailand, a petroleum company, has been acquired by Bangchak Corporation after ExxonMobil sold its majority stake. As a result, all Esso petrol stations in Thailand will operate under the Bangchak brand.
Key Takeaways: Bangchak Corporation has acquired a majority stake in Esso Thailand, leading to the rebranding of all Esso petrol stations under the Bangchak brand.
This acquisition has made Bangchak the largest oil refinery company in Thailand and expanded its network of petrol stations to 2,200 locations.
Bangchak will supply its eco-friendly petroleum products to former Esso stations, which have received quality certifications from the Department of Energy Business.
The acquisition, worth 22.6 billion baht, allows Bangchak to increase its refinery capacity and expand its network of petrol stations. Bangchak plans to become the largest oil refinery company in Thailand and rebrand all Esso stations within two years. Bangchak will supply its eco-friendly petroleum products to the former Esso stations.
Bangchak Corporation has completed the acquisition of Esso Thailand, obtaining a 65.99%…