Abastible Acquires Gasib, Spain's Leading Butane Distributor and Subsidiary of Cepsa

Cuatrecasas has advised Chilean company Abastible—liquefied gas leader in Chile, Colombia, Ecuador, and Peru—on acquiring Gasib, Spain’s leading butane distributor and subsidiary of Cepsa, for €275 million.

With this transaction, Abastible—part of the multinational company Copec—carries out its first European investment. This will enable it to reinforce its participation in distributing a key fuel in the energy transition, as well as strengthening its leadership in Chile, Colombia, Ecuador and Peru.

The acquisition will place Abastible within the top 10 main global players in the liquefied gas sector. This resource was previously one of the main businesses of the energy area of Empresas Copec, a multinational energy conglomerate which, at the end of last year, had a workforce of 40,000, sales of over $29 billion, and EBITDA of $2.3 billion.