Varo Energy
| Varo Energy Holding AG
|
|
|---|---|
 |
|
| legal form | AG |
| founding | 2012 |
| Seat |
Cham ZG , Switzerland
|
| management | Roger Brown (CEO) |
| Number of employees | about 1500 |
| sales | 13.4 billion euros |
| Branch | Mineral oil processing |
| Website | www.varoenergy.com |
| As of December 31, 2017 | |
Varo Energy Holding AG , based in Cham, is a mineral oil company in the downstream sector; the business consists of refineries, pipelines, storage facilities and wholesaling for customers throughout northwestern Europe, with a focus on the Benelux countries, Germany, France and Switzerland. Varo Energy is a joint venture between the Dutch commodities trader Vitol and the US financial investor Carlyle Group .
background
The company was originally founded as a joint venture between the raw materials trader Vitol (75%) and Atlas Invest (25%), a financial holding company of the Belgian entrepreneur Marcel van Poecke, in order to acquire the Swiss refinery Cressier from the insolvent Petroplus .
In December 2013, Varo Energy announced that its group of shareholders would be restructured; Instead of Atlas Invest, the financial investor Carlyle (via his vehicle Carlyle International Energy Partners (CIEP) , in which Marcel van Poecke also holds a stake) is taking over with a 50% stake; At the same time, Varo Energy acquires all shares in PT Holdings, the holding company for Petrotank tank farms, as well as all shares in Vitol Germany from Vitol. In addition, in a separate transaction, Varo Energy is acquiring a 45% stake in Bayernoil , which was previously held by the Austrian mineral oil company OMV , as well as other downstream assets in Germany.
Since 2014 it has also been the largest shareholder in Bayernoil with 45% with the refineries in Vohburg an der Donau and Neustadt an der Donau . In September 2015, the merger with the Dutch oil company Argos Oil , which also operates a petrol station network, and the takeover of Rhytank AG in Birsfelden in the canton of Basel-Land.
Individual evidence
- ↑ https://www.fuw.ch/article/mineraloelkonzern-varo-energy- geht-an-die-boerse /
- ↑ The Carlyle Group and Vitol Group invest in Varo Energy to create a significant new energy midstream group in northwestern Europe. (No longer available online.) In: Press release. Varo Energy, December 19, 2013, archived from the original on February 27, 2014 ; accessed on February 21, 2014 .
- ↑ OMV separates from Bayernoil. Handelsblatt, December 19, 2013, accessed on February 21, 2014 .
- ↑ https://www.greaterzuricharea.com/detail/varo-energy-fusioniert-zu-europaeischem-riesen/