SOCAR acquires Esso Schweiz

State Oil Company of Azerbaijan Republic (SOCAR) has signed a sale and purchase agreement to acquire Esso Schweiz GmbH, a Swiss-based company engaged in the petroleum industry, from ExxonMobil Central Europe Holding GmbH, a German-based distributor of fuels, lubricants and petroleum products. The transaction includes a retail station network with more than 170 service stations (63 company-owned). SOCAR will also acquire the Industrial & Wholesale fuels marketing division, which includes significant volumes of heating oil and bottled gas sales to independent distributors across Switzerland, as well as a gas bottling plant in Wangen bei Olten and the fully owned reseller Deville Mazout Sarl in Geneva. Also included in the transaction is the Aviation business at two Swiss airports (Geneva and Zurich) and the relevant Aviation Joint Ventures (JV) shares, as well as the Swiss Supply & Distribution business, with its terminals and pipeline JV shares. The transaction is expected to close in the third quarter of 2012. (November 18, 2011)