Uniper Has Completed the Sale of its UAE-based Marine Fuel Trading Business

Source Company Press Release
Company Montfort Group, Uniper SE
Tags Country: United Arab Emirates, Downstream: Refining, M&A: Corporate Deal, Deals
Date May 31, 2023

Uniper has completed the sale of 100% of the shares in its United Arab Emirates-based crude oil processing and marine fuel trading business (Uniper Energy DMCC) to a consortium of Montfort Group and the Private Office of Sheikh Ahmed Dalmook Al Maktoum, following the fulfillment of conditions precedent and the receipt of regulatory approvals.

Divestment of this non-strategic participation is part of the remedies Uniper must fulfill under EU state aid law. On December 20th 2022, the EU Commission approved the stabilization package for Uniper under state aid law. As part of the approval, the EU Commission set out a number of structural remedies that Uniper must fulfil. One of them is the divestment of Unipers marine fuel trading business. With the completion of Uniper Energy DMCC, Uniper successfully divested the second participation of the required remedies.

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