The Superintendency of Competition has approved a request made by the company in January 2014 to acquire eight gasoline stations in the country.
From a statement issued by the Superintendency of Competition in El Salvador:
The Board of the Superintendencia de Competencia (SC) resolved to authorize the application for a merger between Alba Petróleos de El Salvador de SEM de CV resulting from the purchase of eight service stations. The application responded to a penalty imposed by the SC last November, in which it ordered, among other things, the submission of an application for authorization of purchases.
Through its petroleum division Uno Costa Rica Terra Group bought seven service stations from the Costa Rican Grupo Colono.
Uno Costa Rica, the petroleum division of the Honduran Terra Group, has purchased seven services stations operated by the Costa Rican group Colono in Limon and Alajuela. The amount of the transaction has not been revealed.
The company was fined $759,924 for failing to petition the Salvadorian Superintendency of Competition to approve to purchase of nine service stations.
In addition to the financial penalty, the Superintendencia de Competencia (SC) demanded that the company submit within 30 days an application to follow the procedure which should have been done in the beginning.
There are eight importers who supply more than 1,250 service stations; companies compete to attract customers with better services.
The purchase of Shell’s operations by Unopetrol, and Esso’s by Puma Energy, has spurred competition and is transforming the fuel sales market, with the opening of new retail outlets and additional service offers, such as car washing.
The service sector closed 2011 with $397.3 million, 20% more than in 2010, according to the Guatemalan Association of Exporters.
The Contact Center industry accounted for 49% of the growth, equivalent to $194.4 million.
The Commission on Contact Centers & BPO’s at Agexport, has estimated growth for next year of nearly 20%.
"This sector has been one of the most dynamic in the service sector and its huge impact on mass employment generation makes up nearly 50% of the total export value. This confirms that promoting this industry gives a significant enhancement to the contribution given to Guatemalan people in terms of employment and boosts the economy", said the Chairman of the Commission on Contact Centers & BPO’s, Germain Lopez
The companies that acquired the Shell and Texaco service stations are preparing for changes in operation.
Delta Petroleum of Panama, which last year bought the assets of Shell Costa Rica will invest $4 million in renovations and changes to the brand image, said Mauricio Barzun,general manager ofDelta Petroleum Costa Rica.
300 service stations will gradually phase out the acceptance of credit or debit cards as payment
The decision taken by the Employers and Distributors Association of Petroleum Adepetro, and the Salvadoran Association of Distributors of Petroleum Products is in response to reduced profit margins resulting from the application of the new formula for establishing the sales price .
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The Central American Business Council is a London-based organisation which is working to increase significantly the current levels of trade and investment between the UK and Central America.
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