VARO Energy signs deal to acquire fuel terminal of ENVIEM VARO Energy signs deal to acquire fuel terminal of ENVIEM VARO Energy signs deal to acquire fuel terminal of ENVIEM

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VARO Energy signs deal to acquire fuel terminal of ENVIEM

VARO Energy and ENVIEM Holding today announced their agreement in relation to the ownership and operations of the ENVIEM Fuel Terminal in Amsterdam, as well as certain wholesale activities. Additionally,VARO Energy will extend its supply to the full GULF and TinQ retail network, operated by ENVIEM in Belgium and the Netherlands.

It is envisaged that, in due course, ENVIEM will continue to own and operate the waste management terminal (MAIN) in the port of Amsterdam, whilst VARO Energy will acquire the fuel terminal located alongside. In addition, ENVIEM will dispose of three double hull barges for the transportation of fuel products. At completion, these barges will be transferred to Interstream Barging, which will operate these barges and expand the company’s clean petroleum products fleet.

For VARO Energy, the acquisition of this fuel distribution asset will be a further step in strengthening the company’s position as an integrated logistics service provider to the downstream business across North West Europe. It is also a valuable addition to further improve the services VARO Energy offers to customers in the Dutch market.

The fuel terminal in Amsterdam has been in operation since 2012 and has a capacity of 66,000 m3. The site offers complete logistical solutions for loading, unloading and blending of different fuel grades for vessels, barges and trucks.

Through this agreement, ENVIEM takes a further step in the implementation of its strategy to divest in non-core fuel activities and further focus on the growth of the company’s retail, lubricants and environmental services businesses in Europe.

It is anticipated the transaction will close around 1st August 2016.

About VARO Energy

VARO Energy refines, stores and distributes oil products for the North West European market. The company owns a refinery in Cressier, Switzerland, a minority share in the Bayernoil refinery, Southern Germany, all Petrotank storage facilities throughout Germany, as well as additional storage facilities, distribution and marketing businesses in Benelux, France, Germany and Switzerland. VARO Energy’s shareholders include private investment company Reggeborgh; Carlyle International Energy Partners, an advisory fund which is part of the global alternative asset manager The Carlyle Group; and international energy and commodities company Vitol. For more information about VARO Energy, please visit www.varoenergy.com.

About ENVIEM

ENVIEM Holding is a Dutch company which is active in a number of downstream activities in the Northwest European oil market. ENVIEM is known from the GULF and TinQ retail service stations in the Netherlands, Belgium and Germany, the ENVIEM oil storage and waste disposal terminal MAIN in Amsterdam and the Transnational Blenders lubricants plant in Dordrecht. For further information, please visit www.enviem.nl.

About Interstream Barging

Interstream Barging (ISB) is an inland barging company specialised in the transportation of liquid products such as petroleum, chemicals and vegoil. Through its fleet of approximately 135 barges ISB focusses on inland waterway transport in Western Europe. For more information, please visit www.interstreambarging.com.

Media contact

For media enquiries related to VARO Energy, please contact Florence Lebeau, +41 41 747 23 16, florence.lebeau@varoenergy.com.

For media enquiries related to ENVIEM, please contact Gerrit van Boven – CEO, +31 34 14 39000, G.vBoven@enviem.nl.