OXXO Gas to Compete with Pemex
FEMSA which owns OXXO convenience stores, will begin purchasing Pemex franchises with the promise to provide lower pricing and liter for liter sales starting with 50 stations in over 14 states. FEM...
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FEMSA start buying Pemex franchises
The company states that the opening of the energy sector allowed to participate directly in the sale of gasoline, so will buy gas stations that operated through agreements with third under the trade name OXXO Gas.
FEMSA formalized in its fourth quarter report sent today to the Mexican Stock Exchange (BMV), which will begin with the purchase of gasoline stations that operated through agreements with third under the brand name OXXO Gas.
"Commerce has agreed to acquire FEMSA franchises owned by third parties and Pemex plans to lease, buy or open more stations in the future," reads the report that shipping firm to the BMV, section of recent events.
According to the company, the above legal changes as part of the Energy Reform in Mexico, which prior to this did not allow him to FEMSA Comercio participate in the sale of gasoline, "should and therefore that owned franchise Pemex due to the participation of foreigners in the base of institutional investors FEMSA ".
"Since 1995, FEMSA Comercio has provided services and assets for the operation of gasoline stations through agreements with third parties that have franchises Petroleos Mexicanos (" PEMEX ") under the trade name OXXO Gas. Over time, this brand has become synonymous with quality service for our customers, and revenue for each gas pump have risen consistently above the industry.
"As of December 31, 2014, were 227 OXXO Gas stations, mostly located next to an OXXO, and generated 16.178 million pesos in revenue from the sale of gasoline and related products during 2014", says the company.
"Historically, Mexican legislation did not allow FEMSA Comercio participate in the sale of gasoline and therefore it was owned PEMEX franchises due to the participation of foreigners in the base of institutional investors FEMSA.
"In light of recent changes in the legal framework as part of the Energy Reform in Mexico, FEMSA Comercio is no longer subject to this limitation and has decided to pursue a strategy of accelerated growth in this business. To this end, FEMSA Comercio has agreed to acquire PEMEX franchises owned by third parties mentioned above, and plans to lease, buy or open more stations in the future, "he explains.
The company notes that begin with a strategy of accelerated growth in OXXO Gas.
"FEMSA Comercio already had assets necessary to operate these 227 stations, so that the capital implications of this agreement to acquire Pemex franchises are low."
The conglomerate provides that the operation of petrol stations will have attractive returns.
"We expect the business of gas stations FEMSA Comercio has modest margins but generate attractive returns, with the potential for further improvement as we achieve greater scale.
"As with all recent acquisitions, once you close the transaction will include the results in the financial reports of FEMSA Comercio, and provide them organically numbers. We are excited to be able to accelerate our participation in this business of high growth and high returns, and we believe we are in a unique order to capture this attractive opportunity position ", he said.
Gulf gas stations are coming to Mexico
Gulf Oil plans to have 100 open by the end of this year
- See more at: http://mexiconewsdaily.com/news/gulf-gas-stations-coming-mexico/#sthash.kZYUkn6V.dpuf
A pioneer in the retailing of gasoline is coming in June or July when four Gulf gas stations open in Mexico.
Gulf Oil plans to have 100 full-service and self-serve stations operating by the end of the year, a number it wants to see grow to 2,000 in the next three years.
FEMSA start buying Pemex franchises
The company states that the opening of the energy sector allowed to participate directly in the sale of gasoline, so will buy gas stations that operated through agreements with third under the trade name OXXO Gas.
FEMSA formalized in its fourth quarter report sent today to the Mexican Stock Exchange (BMV), which will begin with the purchase of gasoline stations that operated through agreements with third under the brand name OXXO Gas.
"Commerce has agreed to acquire FEMSA franchises owned by third parties and Pemex plans to lease, buy or open more stations in the future," reads the report that shipping firm to the BMV, section of recent events.
According to the company, the above legal changes as part of the Energy Reform in Mexico, which prior to this did not allow him to FEMSA Comercio participate in the sale of gasoline, "should and therefore that owned franchise Pemex due to the participation of foreigners in the base of institutional investors FEMSA ".
"Since 1995, FEMSA Comercio has provided services and assets for the operation of gasoline stations through agreements with third parties that have franchises Petroleos Mexicanos (" PEMEX ") under the trade name OXXO Gas. Over time, this brand has become synonymous with quality service for our customers, and revenue for each gas pump have risen consistently above the industry.
"As of December 31, 2014, were 227 OXXO Gas stations, mostly located next to an OXXO, and generated 16.178 million pesos in revenue from the sale of gasoline and related products during 2014", says the company.
"Historically, Mexican legislation did not allow FEMSA Comercio participate in the sale of gasoline and therefore it was owned PEMEX franchises due to the participation of foreigners in the base of institutional investors FEMSA.
"In light of recent changes in the legal framework as part of the Energy Reform in Mexico, FEMSA Comercio is no longer subject to this limitation and has decided to pursue a strategy of accelerated growth in this business. To this end, FEMSA Comercio has agreed to acquire PEMEX franchises owned by third parties mentioned above, and plans to lease, buy or open more stations in the future, "he explains.
The company notes that begin with a strategy of accelerated growth in OXXO Gas.
"FEMSA Comercio already had assets necessary to operate these 227 stations, so that the capital implications of this agreement to acquire Pemex franchises are low."
The conglomerate provides that the operation of petrol stations will have attractive returns.
"We expect the business of gas stations FEMSA Comercio has modest margins but generate attractive returns, with the potential for further improvement as we achieve greater scale.
"As with all recent acquisitions, once you close the transaction will include the results in the financial reports of FEMSA Comercio, and provide them organically numbers. We are excited to be able to accelerate our participation in this business of high growth and high returns, and we believe we are in a unique order to capture this attractive opportunity position ", he said.
Gulf gas stations are coming to Mexico
Gulf Oil plans to have 100 open by the end of this year
- See more at: http://mexiconewsdaily.com/news/gulf-gas-stations-coming-mexico/#sthash.kZYUkn6V.dpuf
A pioneer in the retailing of gasoline is coming in June or July when four Gulf gas stations open in Mexico.
Gulf Oil plans to have 100 full-service and self-serve stations operating by the end of the year, a number it wants to see grow to 2,000 in the next three years.
