U.K.-based Trafigura Group, a global commodity trading company, has agreed to acquire Greenergy’s European business from Brookfield Asset Management and Brookfield Business Partners for an undisclosed sum. The acquisition will enable Trafigura to strengthen its fuel supply operations in Europe and expand its biofuels business.
Driving Sustainable Fuel Options
Greenergy, one of Europe’s largest suppliers of biofuels, with manufacturing plants in the U.K. and the Netherlands, is also a leading distributor of road fuels in the UK. The deal is subject to regulatory approvals and customary closing conditions.
“As Europe transitions to a lower carbon future and the refining industry adapts, companies like Greenergy become increasingly important. This acquisition represents a major expansion of our existing biofuels and fuel supply capabilities, supporting customers’ transition to cleaner, more sustainable fuel options,” said Ben Luckock, global head of oil at Trafigura.
Exciting Growth Opportunities Ahead
The combined expertise of Trafigura and Greenergy is expected to enable the exploration of opportunities for expansion into new markets and products. Trafigura’s financial strength will provide a robust platform for growth and drive Greenergy’s decarbonization plan.