Sonia Abdul-Rahman_Ivan Paskal

White & Case advises on Aramco’s strategic Esmax acquisition

Global law firm White & Case provided legal services to Aramco, one of the world’s leading integrated energy and chemical giants, in its strategic move to acquire 100 percent ownership of Esmax Distribución SpA (‘Esmax’), a prominent downstream fuels and lubricants retailer in Chile, boasting a diversified range of offerings. This acquisition is set to pave the way for Aramco’s entry into South America’s downstream retail market, marking a significant milestone for the company. 

Esmax’s presence in Chile spans retail fuel stations, airport operations, fuel distribution terminals, and a state-of-the-art lubricant blending plant. Aramco’s investment in Esmax not only secures crucial outlets for its refined products but also bolsters its global retail expansion efforts.  

This move aligns with Aramco’s broader strategy to explore new market opportunities, including the expansion of Valvoline-branded lubricants, following its acquisition of Valvoline Inc.’s global products business earlier in February 2023. The transaction remains subject to customary conditions, including regulatory approvals. 

The White & Case team was led by M&A partner Bill Parish (Houston). The team also included partners Sonia AbdulRahman, Ivan Paskal (both in Dubai, pictured), Hansel Pham (Washington, DC), Taylor Pullins (Houston), Strati SakellariouWitt (Brussels) and Clark Wohlferd (New York); and associates Luisa Muskus, Carlos Díaz, Luis Leos, Neil Clausen (all in Houston), Giuseppe Tantulli, Tommaso Poli, Marios Gavriiloglou, Diego Garcia (all in Brussels) and Blair Trahan (Washington, DC).