Bangchak Buys Chevron’s HK Unit as the Thai Firm Expands in Asia

Bangchak Corp. will acquire Chevron’s Hong Kong fuel business for $270 million as the Thai energy company accelerates its overseas expansion, it said.

The Bangkok-based company agreed to buy 100% of Chevron Hong Kong Ltd., according to its Thai exchange filing. Chevron Hong Kong operates gas stations as well as industrial and marine fuel businesses in the territory, it said.