Vitol-Carlyle Group Buys Swedish Refiner to Boost Biofuels Business

Varo Energy, owned by the world’s biggest independent oil trader, Vitol, and the Carlyle Group, has reached a deal to buy Swedish refiner Preem, an early mover in renewable fuel production. Following more than a year of exclusive negotiations, Varo Energy – in which Carlyle, which owns 66.66%, and Vitol, which owns 33.33%, announced on Monday that they had reached agreements to buy Preem’s parent in an all-cash transaction, the value of which was not disclosed. The deal is subject to customary closing conditions and the receipt…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com