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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
Gunvor Supplies Diesel Cargo to Libya’s Arabian Gulf Oil Company
Geneva, Switzerland | 31 August 2011 Gunvor SA, the Geneva-based trading arm of Gunvor Group Ltd, one of the world’s leading independent commodity trading companies, confirmed today that it has discharged a cargo of diesel for use in power generation in Libya, supplied to the Arabian Gulf Oil Company (AGOCO). An AGOCO spokesperson from Benghazi
Gunvor Opens Dubai Office
Geneva, Switzerland | 17 August 2011 Gunvor Group Ltd, one of the world’s leading independent commodity trading companies, has announced that it has opened a new office in Dubai, as of 1 August 2011. It is a branch office of the Group with all trading activity booked through either Geneva or Singapore. The new office
Gunvor Signs USD 1.55 Bil. Revolving Credit Facility
Geneva, Switzerland | 21 June 2011 Gunvor Group Ltd (“Gunvor Group” or the “Company”) is pleased to announce the successful signing of a US$1,550,000,000 Revolving Credit Facility (the “Facility”) in favour of Gunvor International B.V. (“Gunvor International”), Gunvor SA and Gunvor Singapore Pte Ltd (“Gunvor Singapore”) (together the “Borrowers”). The Facility was arranged by ABN
Gunvor Group Announcement
Geneva, Switzerland | 3 May 2011 Gunvor Group Ltd, one of the world’s leading energy trading companies, announces that it has decided to put on hold its development of trading in the European power market due to the current difficult market conditions. The decision does not affect any other activity of the company, such as
Gunvor Group Ltd 2010 Statement
Geneva, Switzerland | 23 February 2011 The Gunvor Group Ltd, one of the worlds leading energy trading companies, announces an 11% increase in volume year-to-year to 104 Million tons and a turn-over of USD 65 Billion, up from USD 53 Billion in 2009. Trading conditions were less favorable than in the previous year with narrower
Strong Demand Leads Gunvor to Increase Its Facility to USD 1.03 Bil.
Geneva, Switzerland | 24 June 2010 Gunvor International B.V. (“Gunvor International” or the “Company”) and Gunvor Singapore Pte Ltd (“Gunvor Singapore”) are pleased to announce the successful signing of their US$1,030,000,000 Revolving Credit Facility (the “Facility”) which was significantly oversubscribed and increased from the initial launch amount of US$750,000,000. The Facility was arranged by BNP
HSBC Joins Syndicate Arranging Gunvor’s USD 750 Mil. Revolving Credit Facility
Geneva, Switzerland | 11 May 2010 Gunvor International B.V. (“Gunvor International” or the “Company”) is pleased to announce that The Hong Kong and Shanghai Banking Corporation Limited (“HSBC”) has joined the syndicate arranging the USD 750,000,000 Revolving Credit Facility (the “Facility”) that was announced on 6 May 2010. HSBC will act as a Bookrunner with