Puma Energy has agreed to sell a significant part of Puma Energy’s infrastructure and storage business to Impala Terminals Group. Puma Energy will remain an important customer of the infrastructure and storage business. The transaction remains conditional upon a number of material commercial and regulatory approvals. As a result of the transaction, if successfully consummated, it is expected that Puma Energy’s net debt (net of cash and cash equivalents and inventories) will become negative . Further details, including the final perimeter of the transaction, will be provided at completion, which is anticipated, subject to various conditions precedent, in the coming months.
This transaction further supports Puma Energy’s strategic priority to simplify and reinvigorate its core business, while focusing on high potential downstream markets.