The downstream oil company VARO Energy announces today that it 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 5 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.
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, a network of 46 product storage terminals and associated 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.