Trafigura to Acquire Greenergy’s Canadian operations
05.08.2024 By Tank Terminals - NEWS

May 08, 2024 [Trafigura]- Trafigura Group Pte Ltd and Greenergy, announced that Trafigura has expanded its agreement with Brookfield Asset Management and its listed affiliate Brookfield Business Partners to include Greenergy’s Canadian supply operations for an undisclosed sum. This complements Trafigura’s proposed acquisition of Greenergy’s European operations announced on 4 March 2024. The acquisitions are subject to customary closing conditions and regulatory approvals.

 

Founded in 1992 to supply diesel with lower emissions, Greenergy is today one of Europe’s largest suppliers of biofuels with manufacturing plants in the UK and the Netherlands and a leading distributor of road fuels in the UK. Greenergy entered the Canadian market in 2013, and supplies commercial and wholesale customers with a range of road fuels including higher percentage biodiesel blends from its rail-fed terminals in Ontario and British Columbia.

Ben Luckock, Global Head of Oil at Trafigura, said: “Greenergy’s Canadian business has strong commercial synergies with their global distillates, gasoline and biofuels business and their well-established commercial relationships across North America.”

Christian Flach, Greenergy CEO said: “Following the earlier announcement of Trafigura’s proposed acquisition of Greenergy’s European operations, they are delighted to now include our Canadian supply operations as part of the transaction. Trafigura’s financial strength will provide them with a robust platform for growth across Canada, helping them to expand their infrastructure facilities in strategic locations, bringing road fuels closer to our customers.”

 

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