Alimentation Couche-Tard Inc. has put on hold plans for a revised proposal to acquire Caltex Australia, citing economic impacts and uncertainty brought about by the Covid-19 pandemic.
Japan Idemitsu Kosan Co. plans to sell wholly owned subsidiary Shell Lubricants Japan back to Shell as it looks for more overseas opportunities amid a shrinking domestic market, the company announced last week.
SK Lubricants acquired a 49 percent stake in Mekong Petrochemical JSC, Vietnams largest private lubricant company, as part of an expansion bid into the Southeast Asian market. The two companies finalized the agreement late last week.
Viva Energy, Shells exclusive lubricants distributor in Australia, has completed its purchase of the remaining 50 percent of Liberty Oils Australian wholesale fuel and lubricant distribution business.
Caltex Australia, one of Australias biggest lubricants and grease suppliers, rejected an unsolicited A$8.6 billion (U.S. $5.8 billion) takeover bid from Alimentation Couche-Tard last week, but left the door open for further offers from the Canadian convenience store operator.
Canadian convenience store operator Alimentation Couche-Tard has made a takeover offer for Caltex Australia, one of Australias biggest lubricant and grease suppliers, the latter announced this week.
Spains Repsol will begin blending lubricants in Southeast Asia through a joint venture with United Global Ltd., after acquiring a 40 percent stake in its Singapore-based lubricant manufacturer United Oil Co., the companies announced on Sept. 30.
Petronas Chemicals Group Bhd of Malaysia agreed to acquire Netherlands-based lube oil additive manufacturer BRB International B.V.s holding company for 163 million (U.S. $182 million) in cash, according to a May 16 Petronas filing with the stock exchange of Malaysia.
Lub-rref (Bangladesh) Ltd., the largest lubricating oil blending plant in Bangladesh, is poised for expansion and growth with the proceeds of its upcoming initial public offering. The company has not disclosed the amount it plans to raise.
Japans Idemitsu Kosan Co. and Showa Shell Sekiyu K.K. merged on Monday, becoming the second-largest lubricant supplier in Japan.