Shell to Exit Mexico Gas Station Business - LatinFinance

The company Regiomontana, Iconn, signed an agreement to acquire the business of the British brand Shell Mobility in Mexico, according to a statement issued by the executive director of the company, Luis A. Chapa, to his collaborators. In the document to which El Financiero had access it can be read that the operation is subject to authorization by the corresponding regulatory authorities, which is estimated to occur in the third quarter of this …

Shell Mexico, the subsidiary company of the European energy giant, agreed to sell the fuel import permits to the company Iconn, said two people with knowledge of the issue to Bloomberg Línea, who asked for anonymity because they cannot speak publicly about the issue, following the sale agreement of their retail business.Shell Mexico has two import permits, issued by the Energy Secretariat for gasoline and diesel in force up to 2038 for 50,000 an…

In a strategic movement that marks an important change in the Mexican energy sector, Shell Mobility has announced the transfer of its operations to the national company Iconn, known for managing the 7-Eleven and Petro Seven chains. This agreement represents a reconfiguration of the fuel market in Mexico, in a context where regulatory policies have generated challenges for foreign firms. Although Shell delivers the management of its 214 service s…

Shell to exit Mexico gas station business - LatinFinance

London-based energy giant inks a deal to sell its Mexican service station operation to a local conglomerate The post Shell to exit Mexico gas station business appeared first on LatinFinance.

One of the largest energy companies in the world, Shell Mobility, has officially announced its departure from the Mexican market. This decision involves the sale of all its business and brand in the country to a leading local corporation, a movement that will significantly reconfigure the panorama of gas stations in Mexico. The transaction, which is expected to materialize during the third quarter of this year, marks the end of an era for Shell’…

Shell’s Mexico subsidiary reported that it reached an agreement with the Mexican company Iconn for the acquisition of the operation of oil filling stations in the country through a trademark license. Shell said in a statement that the agreement is subject to the approval of competition authorities. Iconn operates the brand of Petro Seven filling stations in Mexico with presence in 10 states of the country, including Mexico City.