Portuguese oil and gas company Galp Energia SGPS SA (GALP.LB) said Monday it has finalized the acquisition of oil product assets from ExxonMobil Corp. (XOM) in Portugal and Spain.
Galp said the deal represents a products sales volume of around 1 million tons per year and includes ExxonMobil's retail station network in the two countries.
It also includes ExxonMobil's industrial, wholesale, liquefied petroleum gas and aviation fuel businesses there.
The deal was closed in April and approved, with conditions, by the European Commission Oct. 31.