M&A Deal Summary

Southern Cross Group Acquires Petrobras Energia - Chile Assets

On May 4, 2016, private equity firm Southern Cross Group acquired distribution company Petrobras Energia - Chile Assets from Petroleo Brasileiro for 490M USD

Acquisition Highlights
  • This is Southern Cross Group’s 1st transaction in the Distribution sector.
  • This is Southern Cross Group’s largest (disclosed) transaction.
  • This is Southern Cross Group’s 10th transaction in Chile.

M&A Deal Summary

Date 2016-05-04
Target Petrobras Energia - Chile Assets
Sector Distribution
Buyer(s) Southern Cross Group
Sellers(s) Petroleo Brasileiro
Deal Type Divestiture
Deal Value 490M USD

Target

Petrobras Energia - Chile Assets

Chile
Petrobras Energia - Chile Assets comprises 279 service stations, eight fuel distribution terminals, 11 airport operations, participation in two logistics companies and one lubricants plant.

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Buyer(S) 1

DESCRIPTION

Southern Cross Group is a private equity firm that seeks investment opportunities in Latin and South America. Southern Cross only invests in control situations and does not focus on any specific industry. Southern Cross Group was formed in 1998 and is based in Greenwich, Connecticut with additional offices in Argentina, Chile, Mexico, and Brazil.


DEAL STATS #
Overall 23 of 28
Sector (Distribution) 1 of 1
Type (Divestiture) 3 of 3
Country (Chile) 10 of 11
Year (2016) 3 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Ecoser

Quilicura Santiago, Chile

Ecoser is the third largest industrial waste collection company in Chile with strong presence in Santiago and presence in over 7 regions across the country. The company serves a wide and largely diversified set of customers (over 500 nationside) providing strong revenue resilience. It is also operated with high operational standards vs. competitors allowing it to maintain strong operational margins while offering competitive prices. The company is fully focused on serving directly and exclusively industrial clients with which it handles relationships directly rather than relying on municipal waste bidding processes.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Super xtra

Panama City, Panama

Super xtra is a food retail chain in Panamá with a strongly articulated “everyday low price strategy”. The company is focused on serving the growing low-middle class in Panamá driven by the strong performance of the country’s economy. The company operates a network of 14 stores nationwide through an efficiently-run supply chain and logistics platform.

Buy -

Seller(S) 1

SELLER

Petroleo Brasileiro

Rio de Janeiro, Brazil

website


Category Company
Founded 1953
Sector Oil/Gas Exploration
Employees49,050
Revenue 53.7B BRL (2020)
DESCRIPTION

Petroleo Brasileiro is an entity which through its subsidiaries, engages in the exploration, exploitation, and production of oil from reservoir wells, shale, and other rocks. Petroleo Brasileiro was founded in 1953 and is based in Rio de Janeiro, Brazil.


DEAL STATS #
Overall 2 of 2
Sector (Distribution) 1 of 1
Type (Divestiture) 1 of 1
Country (Chile) 1 of 1
Year (2016) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-04 Petrobras Energía - Argentina Assets

Argentina

Petrobras Energía - Argentina Assets include some 30 upstream contracts, a network of service stations, the 30,500 b/d Bahia Blanca refinery in Buenos Aires province, a petrochemical plant in Santa Fe province. The company also holds interests in the power sector, operating the 825MW Genelba combined-cycle plant in Marcos Paz, Buenos Aires province and the 245MW Pichi Picun Leufu hydroelectric plant in Neuquen province, and holds minority stakes in thermal plants.

Sell -