VARO Energy signs purchase agreement with German wholesale distributor Gekol Mineralölhandel GmbH


Conventional energies

VARO Energy, a growing oil refining and distribution company in North West Europe, today announced that the Group signed a Sales and Purchase Agreement (SPA) with Gekol Mineralölhandel GmbH, a wholesale distributor of petroleum products based in Hamburg, Germany.

The acquisition will complement VARO Energy’s existing refining, distribution and sales activities and extend the company’s presence in Germany.

The planned acquisition is subject to approval by German regulatory authorities and scheduled for completion in the second quarter of 2015.

VARO Energy refines, stores and distributes oil products for the North West European market. The company owns a refinery in Cressier, Switzerland, a minority share in the Bayernoil refinery in Southern Germany, all Petrotank storage facilities throughout Germany, additional storage facilities in Switzerland and marketing businesses in both countries.

VARO Energy is owned by The Carlyle Group and Vitol.

About VARO Energy

VARO Energy is a growing oil refining and distribution company in North West Europe. The company refines, stores and distributes oil products in Switzerland and Germany. VARO Energy is a partnership between the global alternative asset manager The Carlyle Group and international energy and commodities company Vitol.

For further information, please contact

Florence Lebeau

T: +41 41 747 23 16

E: [email protected]