Chevron sells fuel marketing business in Haiti

Medley Capital Ltd. has agreed to buy Chevron Corp.'s fuels marketing business in Haiti for an undisclosed sum.

Uchenna Izundu
OGJ International Editor

LONDON, June 3 -- Medley Capital Ltd. has agreed to buy Chevron Corp.'s fuels marketing business in Haiti for an undisclosed sum. Medley is owned by GB Group, a Haiti-based industrial group with core holdings in energy, steel, and food products.

Under the terms of the agreement, which are subject to various closing conditions, Medley Capital would acquire 58 retail outlets, 120 commercial and industrial customers, and other lines of business.

"The proposed sale of our fuels marketing businesses in Haiti is consistent with our ongoing effort to concentrate resources and capital on strategic, global assets," said Shariq Yosufzai, president of global marketing at Chevron.

Contact Uchenna Izundu at uchennai@pennwell.com.

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