Shearman And Sterling

News December 20, 2022

Esso to dispose of downstream fuels business to API

Shearman & Sterling is advising Esso Italiana (Esso), a wholly owned subsidiary of ExxonMobil Group, as they enter into a sale and purchase agreement for the disposal of Esso's Italian downstream fuels business to Italiana Petroli (API).

Esso, headquartered in Rome, has been operating in Italy since 1891, and is the wholly owned subsidiary of ExxonMobil Group company.  The ExxonMobil Group, headquartered in Texas, is one of the world's largest publicly traded international oil and gas companies.

API, a family owned business headquartered in Rome and founded in 1933, is one of Italy's largest fuel suppliers.

The Team