Nov 09 - Change of Ownership Antwerp Refinery

Source Company Web Site
Company Nynas 
Tags Refining & Marketing Activities
Date November 10, 2009

Petroplus has signed an agreement to dispose of its interests in Petroplus Refining Antwerp NV (PRA) and Petroplus Refining Antwerp Bitumen NV (PRAB), together the owners of one of Petroplus' refinery facilities in Antwerp.

The latter company is the owner of the bitumen refinery which is Nynas' major supplier in Continental Europe. The purchaser is a subsidiary of the Vitol Group, a major oil trading and production company with Global interests. The deal remains subject to approval by regulatory authorities and  Nynas' approval of the terms of the transfer of the bitumen supply contracts.

Nynas has already held preliminary discussions and expect to conclude the transfer by the end of the year. Russell Childs,  Nynas VP commented: "We are pleased with the selection of new owners and are currently working closely with both Petroplus and  Vitol to ensure a smooth transition and security for the future in this important bitumen supply line."

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