Sol Petroleum expands over to Dominican Republic
Sol Petroleum Domincana Limited (Sol), a joint venture between the Sol group and VICINI, has concluded the purchase of Shell’s retail, commercial and lubricants business in the Dominican Republic.
Sol will retain the use of the Shell brand across its acquired network of 138 service stations and will continue to supply Shell’s high quality lubricants to its retail, commercial and industrial customers. The marketing of aviation and commercial fuels, as well as all corporate offices and other company assets will be rebranded to Sol.
VICINI is a privately held Management and Asset Management business with interest in several industries such as; food and beverage, energy, finance and insurance, media, tourism and real estate. The reach of VICINI’s business interest spans the Dominican Republic, the Caribbean and Central America.
In addition to Sol’s acquisition of Shell’s retail, commercial and lubricants business in the Dominican Republic, Sol Aviation Services Limited (SASL) has purchased the aviation assets of the Shell Company (W.I.) Limited and has commenced aviation operations at Las Americas and Puerto Plata airports. These two new airports bring the total number of airports at which SASL is present to eleven. SASL will manage the airports in the Dominican Republic from its headquarters in Barbados.
On completing the transaction, Sir Kyffin Simpson, Chairman of the Sol Group remarked:
“We are extremely pleased to add the Dominican Republic to our portfolio of operations and we look forward to working with our partner, VICINI, to build on the solid business foundation acquired from Shell”.