There has been a change in ownership of the licensed user of Shell brands in Jamaica.
Regional firm Blue Equity on Thursday announced that it has sold the Antilles Group Limited which manages in the Shell brand to the Paris-based Rubis Group.
The transaction was finalised at the end of 2012 for an undisclosed amount.
In 2011, Blue Equity purchased controlling interest in The Antilles Group, formerly Cool Petroleum Holdings, from Neal and Massy.
The Antilles Group is the largest fuel retailer by volume in Jamaica and operates a network of more than 50 service stations on the island.
Rubis’ acquisition consolidates the company’s presence in the Caribbean, where it is one of the largest operators in the area of fuel supply.
Blue Equity is a private equity firm with holdings in a variety of sectors, including oil and gas, media, distribution, health care, defense, financial services and real estate.