Panama City, Panama – June 2025 – Siuma Capital, Corp. (“Siuma Capital”) announced that it served as financial advisor to the shareholders of Petroautos S.A. (“Petroautos”) on the sale of 100% of its shares to Sojitz Corporation (“Sojitz”). Petroautos is the exclusive distributor of Hyundai vehicles in Panama, the third largest automotive brand in the country. Sojitz is a world-class Japanese trading company with a robust global footprint and a strong presence in the automotive sector across the Americas.
The transaction included not only the Hyundai distribution business but also its integrated retail and aftersales operation, an auto insurance brokerage business, and a portfolio of strategically located properties nationwide.
Petroautos has been a namesake business in the Automotive industry in Panama. The company grew Hyundai’s market share from a mere 4% in 2004 to consistently holding the #2 and #3 positions for more than a decade. At the time of the transaction, Petroautos is the largest locally owned automotive group in the country.
Sojitz entered the automotive industry in Panama in 2024 with the acquisition of Grupo Silaba – exclusive distributor for Kia, Mazda, Karry, Omoda and Jaecoo. The Petroautos acquisition will further cement the company’s presence in the country and showcase its continued interest in the development of the Panamanian automotive industry.
This transaction is an example of the strong appetite we are seeing from leading global automotive groups in investing in exclusive distributors in Latin America. “Global Auto Corporations have shown sustained interest in pursuing targets within our client portfolio across Latin America,” says Tomás Valsecchi, Vice President at Siuma Capital. “Strong industry fundamentals, robust growth prospects, and the rapid transformation of the sector driven by electrification and new market entrants uniquely position these companies to develop and scale their operations through M&A.”
The successful closing of this landmark cross-border transaction underscores the professionalism and technical expertise of the Siuma Capital team, as well as our ability to execute complex M&A processes involving multiple stakeholders and jurisdictions. This achievement further strengthens our track record in the automotive sector and reinforces Siuma Capital’s position as the leading investment bank serving the industry in Latin America.
Ricardo Urrutia, Director at Siuma Capital, shared: “The Petroautos transaction highlights once again the unwavering trust that automotive players are placing in Siuma Capital to advise them on strategic alternatives and deliver successful M&A outcomes. In Panama alone, we have now advised on the sale of the country’s second- and third-largest automotive groups in less than 2 years. We remain highly active across the region and expect to announce additional transactions by end of year.”
Reflecting on the transaction, Samuel Urrutia, Managing Director of Siuma Capital, added: “It was an honor to serve as sell-side advisors on this transaction. Petroautos presented a unique opportunity to acquire the largest local automotive group in a prime market, with some of the best-located facilities nationwide. Our team worked diligently to ensure a successful outcome from start to finish. We are thrilled with the result and excited for both Petroautos and Sojitz as they embark on this next chapter.”
We would like to extend our sincere gratitude to the Jurado family for the trust they placed in Siuma Capital to lead this important transaction.
