EMEA News
Varo Energy to Buy Dutch Bunker Player
As part of an effort to expand its business in the Netherlands, Varo Energy (Varo) has announced that it intends to acquire all shares of Total Nederland N.V. (Total Nederland's) bunkering subsidiary, FIWADO B.V. (FIDWADO).
The deal would see Varo take over five bunker stations in Amsterdam, Flushing, Millingen, Rotterdam, and Zwijndrecht.
"The purchase of this company will reinforce the presence of VARO Energy in inland bunkering in the Netherlands, where we operate under the brand REINPLUS VANWOERDEN Bunker," said Roger Brown, CEO of VARO Energy.
"With this addition, we will provide a stronger network to supply our clients with high quality products more efficiently – when and where they need them."
The transaction is expected to be finalised in October 2016, and is subject to approval of the Dutch competition authorities.
Until approval is received, FIWADO and Varo will continue to operate their businesses fully independently, notes Varo.
In Janury, Varo sold its only coastal storage facility to Graue Entsorgungs-und Bunkergesellschaft (Graue) for an undisclosed sum.
