Liwathon Group Acquires 25% Stake in Germany's MIRO Refinery from Esso Deutschland

Source Press
Company Liwathon E.O.S.ExxonMobil 
Tags Asset Deals, Deals, Refining & Marketing Activities
Date October 20, 2023

Alcmene Group, headquartered in Vienna, Austria, is pleased to announce the purchase of a 25% share in MIRO Mineraloelraffinerie Oberrhein GmbH & Co. KG, one of Germany's largest oil refineries, previously owned by Esso Deutschland GmbH. This transaction marks a further significant move towards Alcmene's ongoing strategy to establish itself as a vital player in the global energy infrastructure arena. "Our goal is to increase shareholder value by focusing on operational excellence and strategic asset acquisition," stated Raul Riefler at Alcmene GmbH. The completion of the transaction is subject to applicable regulatory approvals.

The acquisition aligns seamlessly with the broader investment strategy of Liwathon Group, the parent company of Alcmene. Liwathon owns over 2,100,000 m3 of storage across two major terminals in Estonia and the Bahamas, reinforcing its global presence in the energy sector. "We are committed to providing secure, reliable, and affordable energy solutions whilst adhering to the highest industry standards. This acquisition demonstrates our focus on strategic growth, especially in areas where future investment in energy infrastructure is necessary to maintain supply resilience," commented Alcmene GmbH. Alcmene, a wholly-owned subsidiary of Liwathon Group, specializes in midstream oil and commodity trading. The company aims to unlock asset value through significant capital investments and identifies multiple synergies within the group for future acquisitions in the energy and industrial sectors.

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