Puma Energy has agreed to sell its business operations in Paraguay to Impala Terminals Group, a joint venture between Trafigura and IFM Global Infrastructure Fund. The $200 million transaction is expected to close by January 2020.
FitzGerald, CEO of Puma Energy, said: “This transaction is a positive step forward in Puma Energy’s commitment to optimising our global portfolio and deleveraging our balance sheet by the end of 2020. Puma Energy continues to work closely with all partners across the Americas and remains fully committed to operations in the region.”
The company said its priority is to ensure a transparent and seamless transition of operations to Impala for all customers and business associates in Paraguay. The business will continue to be operated under the Puma Energy brand name. Puma Energy expects to use the proceeds of the sale to pay down debt, in line with its capital management policy.
For more information visit www.pumaenergy.com