ExxonMobil: acquisition of Indonesian lubricants company

(CercleFinance.com) - ExxonMobil has announced an agreement to acquire Federal Karyatama (FKT), one of the leading suppliers of motorcycle lubricants in Indonesia, including the Federal Oil brand and a 700,000 barrel a year mixing site in Cilegon.


Purchased from Mitra Pinasthika Mustika Tbk for an unspecified amount, FKT has a national distribution network including approximately 40 dealers, 3,200 Federal Oil Centers and over 10,000 retailers in Indonesia.

The US oil and gas giant expects this deal to be finalised - subject to the green light from shareholders and governmental and regulatory authorities, in the third quarter of 2018 at the latest.

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