BioPetrol to acquire Dutch Biodiesel
In Switzerland, BioPetrol has signed an agreement to acquire the entire issued share capital of Dutch Biodiesel BV. The transaction is subject to shareholder approval and the customary closing conditions being satisfied by BIOPETROL and Dutch Biodiesel shareholders.
Dutch Biodiesel shares are held by Glencore (60%) and Argos Groep BV (40%). Following the satisfaction of these conditions, it is anticipated that the transaction will close before the end of December 2010. To underline their commitment, Argos and Glencore combined will buy additionally 7,433,499 existing shares of BioPetrol from majority stockholders. Dutch Biodiesel BV is a joint venture between Argos (40%) and Glencore (60%).
With a facility in Rotterdam, Dutch is able to use multiple feedstock such as rapeseed oil and soybeen oil, with a capacity of 250,000 t/a. A formal invitation to an extra-ordinary meeting of the shareholders of BIOPETROL will be published in the coming days.
Category: Fuels
