Category Gunvor Group

Gunvor Investigating Allegations

Nicosia, Cyprus | 3 July 2012 Gunvor Group Ltd has been notified by Swiss authorities that they are conducting an investigation into the activities of a former employee in the Republic of Congo (Congo-Brazzaville). Gunvor itself is not the object of the current investigation. Gunvor is fully cooperating with Swiss authorities on the investigation,and Gunvor

Gunvor Group Ltd Successfully Extends European Syndication

Geneva, Switzerland | 26 June 2012 Gunvor Group Ltd today announced the successful completion of an extension of the European one-year tranche of its Revolving Credit Facility (RFC). The extension is for 6-months, with a maturity in December 2012. The refinancing process for the European syndication will begin in September. The extension comes on the

Gunvor Belgian Refinery Hiring

Antwerp, Belgium | 21 June 2012 Gunvor Group CEO Torbjörn Törnqvist this week visited the company’s recently acquired refinery, Independent Belgian Refinery NV (IBR), to meet with management and staff and discuss continuing integration with Gunvor’s operations. IBR, a former Petroplus asset, is now 100%-owned by Gunvor. Through the May purchase, Gunvor retained all 200-plus

Petroplus Bavaria Employees Welcome Gunvor CEO

Ingolstadt, Germany | 14 June 2012 More than 200 Petroplus Bavaria employees and members of management welcomed Gunvor Group CEO Torbjörn Törnqvist to the Ingolstadt plant last week. The visit was the first by Törnqvist since Gunvor announced the acquisition of the refinery’s assets, which will keep open the plant saving hundreds of jobs. “I

Gunvor Singapore Pte Ltd’s Oversubscribed USD 635 Mil. Syndication Affirms Asian Growth Strategy

Singapore | 12 June 2012 Gunvor Singapore Pte Ltd today signed a USD635 Million syndicated revolving credit facility (RCF), which drew considerable new support from local banks in the Asia-Pacific Region, affirming the Company’s decision to create a stand-alone syndication. The Facility was launched at USD470 Million and closed oversubscribed by 35 percent, a result

BNPP and RBI Successfully Closed 5-year USD 250 Mil. Secured Acquisition Security in Favour of Gunvor

Geneva, Switzerland | 6 June 2012 Gunvor Group Limited (“Gunvor”) has mandated BNP Paribas (“BNPP” or the “Coordinating MLA”) and Raiffeisen Bank International AG (“RBI”) (collectively the “Mandated Lead Arrangers & Bookrunners”) to arrange a US$ 250mn Secured Acquisition Facility (the “Facility) to finance 33.33% of the outstanding equity of the US based Signal Peak

Gunvor Group Signs Purchase Agreement to Acquire Assets of Petroplus’ Ingolstadt Refinery and Related German Marketing Activities

Ingolstadt, Germany | 31 May 2012 Gunvor Group, one of the world’s major independent commodity trading companies, has announced that it has signed a purchase agreement to acquire the assets of Petroplus’ refinery in Ingolstadt and related German marketing activities. The acquisition is subject to customary closing conditions and regulatory clearance from competition authorities. The

Gunvor Group Completes Purchase of Petroplus’s Antwerp Refinery

Antwerp, Belgium | 2 March 2012 Gunvor Group, one of the world’s major independent commodity trading companies, has announced that it has successfully completed the purchase of Petroplus’s refinery in Antwerp. Independent Belgian Refinery N.V., as the new – 100% Gunvor-owned and Belgian subsidiary is named – has obtained all the necessary permits, licenses and

Gunvor Refutes Unsubstantiated Accusations Made in The Economist

Geneva, Switzerland | 2 March 2012 An article in the 5 May edition of The Economist makes untrue and unsubstantiated allegations about Gunvor Group (“Gunvor”), one of the world’s major independent commodity trading companies. The company refutes these statements and fabrications that are damaging commercially and reputationally. Gunvor goes on record to challenge all the

Gunvor Group Bids Successfully to Purchase Petroplus’s Antwerp Refinery

Gunvor Group, one of the world’s major independent commodity trading companies, has announced that it has successfully bid to purchase Petroplus’s refinery in Antwerp. The transaction is expected to be completed formally within 6 to 8 weeks, with the support from the local and Belgium state authorities. Gunvor has the intention to restart operations as