Swiss oil company Puma Energy is opening its first gas stations in Puerto Rico

SAN JUAN, Puerto Rico -- Swiss oil company Puma Energy is opening its first gas stations in Puerto Rico this month as it completes the takeover of Caribbean Petroleum Corp., officials said Wednesday.

Six existing stations will reopen under Puma's brand in the northern coastal cities of San Juan and Carolina and the central town of Utuado, according to retail sales manager Merle Pastrana.

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Triple-S to acquire La Cruz Azul...

A Puerto Rican managed-care company that’s a subsidiary of Independence Blue Cross will be sold Triple-S Management Corp.
Philadelphia Business Journal

Triple-S has signed a nonbinding letter of intent to acquire La Cruz Azul de Puerto Rico Inc.

Finanical terms of the deal have not yet been finalized, the companies said.

The completion of the sale is subject to final due diligence and approvals from the Insurance Commissioner of Puerto Rico and the Blue Cross Blue Shield Association.

Triple-S (NYSE:GTS), of Puerto Rico, plans to fund the acquisition with cash and expects to complete the acquisition by the end of the first quarter of next year.

La Cruz Azul de Puerto Rico had premium revenue of $88 million last year.

Health insurer Independence Blue Cross is based in Philadelphia.

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The San Juan Star Closes

The San Juan Star, Puerto Rico's Pulitzer Prize-winning English-language newspaper, closed Friday, the owner said, blaming the union for not agreeing to benefit cuts and layoffs to offset declining revenue. more...

Banco Popular Assets Sold To Goldman Sachs

'Puerto Rico's largest bank Popular Inc said it will sell the loan and servicing assets of its U.S. mortgage unit worth $1.17 billion to Goldman Sachs to improve liquidity and reduce risky assets, sending its shares up as much as twenty seven percent.' read more...