Primax Acquires Majority Stake in Pecsa

Publicado el 19 mar 2018

Corporación Primax S.A., a subsidiary of The Romero Group Corporation, reached an agreement on February 1st to acquire a 90% stake in Pecsa, one of the biggest Peruvian companies in the distribution and commercialization of fuels and hydrocarbon derivatives.

The transaction includes almost 400 of Pecsa’s 422 gas stations, 40 Viva convenience stores as well as four liquefied petroleum gas (LPG) plants located in Lambayeque, Trujillo, Huachipa and Arequipa, marking its entry in the packaged LGP business.

Through this acquisition, Primax becomes the largest gas station chain in Peru with more than 1,000 stations nationwide, representing a 21% share of the national market.

Established in 2004, Primax operates a network of service stations, offering liquid fuels and services to the industrial and independent sectors in Peru.

Miranda & Amado, led by partner Luis Miranda Alzamora, served as legal counsel to Primax and Rebaza, Alcázar & De las Casas, led by partners Alberto Rebaza, Luis Miguel Elías and Camilo Maruy, served as legal counsel to Pecsa.

EY Peru, led by partner Fernando Tori, assisted by managers Edwin Sarmiento and Rosaura Paiva, acted as tax due diligence and tax structuring advisor.

C.G.L.