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published: Wednesday | September 26, 2007
The Jamaica Gasolene Retailers Association (JGRA) has summoned all Esso dealers to an emergency meeting this morning to discuss the pending divestment of Esso's gas station operations in Jamaica.
On the weekend, The Sunday Gleaner reported that billionaire, Kiffin Simpson, was close to finalising a deal with Esso to acquire its Caribbean assets.
But on Monday Errol Edwards, president of the JGRA, said the dealers and the association were having a difficulty getting any information from Esso.
"We can't operate on that basis. Our members have billions of dollars tied up in investments in these stations and we can't afford to sit down and have Esso sell the stations to other persons and we don't know," Mr. Edwards said.
He said that, at today's meeting, the association will be making decisions on the steps that it will be taking as it relates to the matter.
"We have to take some steps to secure our investments or to force them to talk to us," he told The Gleaner. "We are going to meet with all the retailers who will be affected and thereafter, based on what they wish us to do for them, that is what we are going to do." According to The Gleaner's report on Sunday full details of the transaction were being closely guarded, Total was said to have bid US$400 million for the Esso Standard Oil network of 200 gas stations in places like Jamaica, The and Haiti, as well as Puerto Rico, an American-owned territory.
The Jamaica Gasolene Retailers Association (JGRA) has summoned all Esso dealers to an emergency meeting this morning to discuss the pending divestment of Esso's gas station operations in Jamaica.
On the weekend, The Sunday Gleaner reported that billionaire, Kiffin Simpson, was close to finalising a deal with Esso to acquire its Caribbean assets.
But on Monday Errol Edwards, president of the JGRA, said the dealers and the association were having a difficulty getting any information from Esso.
"We can't operate on that basis. Our members have billions of dollars tied up in investments in these stations and we can't afford to sit down and have Esso sell the stations to other persons and we don't know," Mr. Edwards said.
He said that, at today's meeting, the association will be making decisions on the steps that it will be taking as it relates to the matter.
"We have to take some steps to secure our investments or to force them to talk to us," he told The Gleaner. "We are going to meet with all the retailers who will be affected and thereafter, based on what they wish us to do for them, that is what we are going to do." According to The Gleaner's report on Sunday full details of the transaction were being closely guarded, Total was said to have bid US$400 million for the Esso Standard Oil network of 200 gas stations in places like Jamaica, The and Haiti, as well as Puerto Rico, an American-owned territory.