Business
Chevron completes sale of Caribbean assets
In 2011, the report also stated that RUBIS spent nearly US$331 million in investments and acquisitions, either paid or initiated, providing further clues into the price tag of assets in the Caribbean.
The “promising integration” of the Caribbean zone purchases positions RUBIS as one of the leading independent operators in the region, the report added, with acquisitions in The Bahamas specifically listed as a driver of revenue going forward.
“Following on from these recent years, opportunities for external growth continue to appear, providing the group with new prospects for growth,” it stated.
The response to the high-profile acquisition has been met with less enthusiasm among gas retailers here at home.
Philip Kemp, the president of the Bahamas Petroleum Retailers Association (BPRA), has expressed a measure of concern as RUBIS takes the reins. Gas retailers have experienced their fair share of problems dealing with Chevron, he told Guardian Business, and worries persist this trend will continue.
Source: Nassau Guardian
