Bomin Sells ARA Operations to Somtrans

Wednesday November 21, 2018

Somtrans in set to enter the bunkering market, with Bomin today saying it has signed an agreement to sell its Belgium operations to certain individuals of the Somers family who control the tanker shipping company.

The sale follows the bunker supplier’s announcement in September it was exiting the Singapore and Antwerp markets.

The purchasers will acquire 100% of the shares in Bomin Belgium and subject to merger clearance, the deal is expected to be formally concluded on December 31, 2018.

As from January 2019 the company will be rebranded.

"Since we made the announcement in September that we were exiting the Belgium bunkering market, we have been in discussions with a number of parties regarding the sale of the business. I am very pleased that this agreement has been signed and that the employees of Bomin Belgium will be able to continue the business,” said Jan Christensen, Managing Director, Bomin Group.

Adding his comments to today’s announcement, Ronald Somers, CEO of the Somtrans Group, said: "This is a significant time for our family as we look to enter the bunkering market, providing our customers with even more value, and creating the opportunity to build longer-term, partnership-based relationships with them.

"In acquiring Bomin Belgium we are gaining a valuable operation, founded on integrity, quality, in-depth market knowledge and values, which are wholly attuned to ours."