Varo Energy B.V. (Varo Energy) has completed the acquisition of shares currently held by OMV Deutschland GmbH (Vienna SE – OMV:AV) in Bayernoil Raffineriegesellschaft mbH, as well as certain downstream assets owned by OMV Deutschland GmbH.
The acquisition establishes Varo Energy as a major midstream energy business in north-west Europe focused on three core areas: refining; wholesale distribution; and storage. It has a combined refining capacity of 160,000 bbl/d, sales of 10 million cubic metres per year and 1.7million cubic metres of storage capacity.
Varo Energy’s assets include the Cressier refinery in Switzerland, a 45% share of the Bayernoil refinery in Germany, all the Petrotank storage facilities throughout Germany, additional storage facilities in Switzerland, and further downstream assets in Germany. The business serves clients in Northern Germany, Bavaria and along the Rhine, as well as throughout Switzerland, and will continue to seek opportunities to further strengthen its position.
Varo Energy is owned by Vitol (50%) and Carlyle International Energy Partners (CIEP) (50%).
For more information please contact:
Andrea Schlaepfer, Vitol +44 207 973 4230
Fabian Gmuender, Vitol +44 207 973 4478
Elizabeth Adams, Brunswick (UK) +44 207 396 5331 email@example.com
Catherine Armstrong +44 (0) 207 894 1632; firstname.lastname@example.org
Katharina Gebsattel +49 172 718 68 57 email@example.com
About Vitol: The Vitol Group was founded in 1966 in Rotterdam, the Netherlands. Since then the company has grown significantly to become a major participant in world commodity markets and is now the world’s largest independent energy trader. Its trading portfolio includes crude oil, oil products, LPG, LNG, natural gas, coal, electricity, agricultural products, metals and carbon emissions. Vitol trades with all the major national oil companies, the integrated oil majors and the independent refiners and traders. Globally Vitol trades over 5 million barrels of crude oil and oil products per day and revenues in 2013 were $307 billion. For more information: www.vitol.com
About The Carlyle Group: The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with approximately $199 billion of assets under management across 120 funds and 133 fund of funds vehicles as of March 31, 2014. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,600 people in 38 offices across six continents.