Tag Refinery

EU Approves Gunvor Purchase Of German Petroplus Assets

Geneva, Switzerland | 6 August 2012 The European Commission has approved regulatory clearance for Gunvor Group Ltd’s acquisition of the assets of Petroplus’ refinery in Ingolstadt and related German marketing activities. The clearance marks a key milestone for Gunvor in the closing process. Gunvor’s purchase of the refinery, which remains subject to additional customary closing conditions

Gunvor Launches USD 500 Million Syndication for Belgian Refinery

Antwerp, Belgium | 11 July 2012 Gunvor Group Ltd is moving ahead with plans for its new refinery in Belgium, having successfully launched a USD 500 million borrowing base secured revolving credit facility (RFC) to support operations. ING and Rabobank are the two Bookrunning Mandated Lead Arrangers of this facility, which will be used to

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 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 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