The downstream oil company VARO Energy has signed an agreement to acquire all of the shares of FIWADO B.V., the Dutch inland bunkering business of Total Nederland N.V.
Through this transaction, VARO Energy will expand its Dutch network with five bunker stations in Amsterdam, Flushing, Millingen, Rotterdam and Zwijndrecht.
“The purchase of this company will reinforce the presence of VARO Energy in inland bunkering in the Netherlands, where we operate under the brand REINPLUS VANWOERDEN Bunker”, said Roger Brown, CEO of VARO Energy. “With this addition, we will provide a stronger network to supply our clients with high quality products more efficiently – when and where they need them”.
The closing of this transaction is anticipated to take place in October 2016, subject to the approval of the Dutch competition authorities. Until such approval has been granted, both companies, i.e. FIWADO B.V. and VARO Energy, are conducting their respective businesses fully independently.
Adapted from press release by Rosalie Starling
Read the article online at: https://www.tanksterminals.com/storage-tanks/14092016/varo-energy-announces-expansion-of-inland-bunkering-activities-4076/
You might also like
CST Industries, Inc. has announced its acquisition of Ostsee Tank Solutions, building upon the company's growth in the industry and expanding its portfolio.