St. Maarten forms part of multi-national corporate transaction

POSTED: 11/2/11 12:23 PM

St. Maarten – The consortium GB Group, through its subsidiary GB Energy LTD., has signed the sales and purchase agreement to acquire the Chevron assets in the Dominican Republic, Jamaica and St. Maarten. This transaction means the company acquires the distribution and commercialization of petroleum products that Chevron currently owns in the listed markets.

“This transaction is part of our ongoing efforts to constantly search for new opportunities to expand our downstream fuel business in the Caribbean, keeping our focus to satisfy the needs of our customers in the markets where we operate,” the Chairman of the Group Gilbert Bigio commented.

GB Group is one of the major private industrial groups in the Caribbean, with offices in Haiti, Dominican Republic and Miami, Florida. It has more than one century of successful business activities and more than 2, 000 employees in numerous companies, affiliates, and joint ventures in building materials, consumer goods, environmental services, infrastructure, telecommunications, trading, transportation, and fuels marketing and distribution.

As a partner for this transaction, GB Group counts with Randal Perkins, President and CEO of AshBritt Environmental, the largest rapid-response company for disaster recovery, emergency and environmental services in United States. In Dominican Republic, GB Group has partnered with Martí Petroleum Group, an experienced company in LPG distribution and fuel marketing business in the country.

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