Singapore-based commodity trading company Trafigura Group Pte Ltd (Trafigura) has signed a deal to buy major refinery and terminals.
The deal is being done by Rhône Energies, a consortium composed of Entara LLC and Trafigura Pte Ltd.
The commodities giant said Rhône Energies has reached an “important milestone” in the acquisition process of the Fos-sur-Mer refinery and the Toulouse and Villette-de-Vienne terminals from Esso.
Trafigura’s partner in the deal, Entara LLC, is an energy infrastructure company that focuses on reducing carbon intensity of refinery assets.
The parties signed the sales agreement having completed an information and consultation procedure with employee representative bodies, Trafigura said.
The transfer of ownership of the site remains subject to the required regulatory approvals.
As informed, discussions with the relevant authorities are ongoing and the necessary authorizations are expected by the end of October 2024.
The deal to acquire the refinery is Trafigura’s another major acquisition this year. It also completed recently the acquisition of UK-based supplier of road fuels and biodiesel producer Greenergy’s European and Canadian supply businesses from Brookfield Asset Management and its listed affiliate Brookfield Business Partners.
Nicholas Myerson, chief executive of Entara, said: “We are delighted to have finalised the sales agreement for the Fos-sur-Mer refinery and the Toulouse and Villette-de-Vienne terminals. We look forward to continuing our engagement with the operational management and the transition team, to ensure a smooth transition of operations.
“Discussions with national and local stakeholders have been particularly constructive, and we remain committed to collaborating with all parties on operations and our future plans.”
As it is reported by Trafigura, Rhône Energies now plans to capitalize on the refinery’s existing skilled teams and strong manufacturing performance.
