Aegdan Marine Petroleum to be acquired by Mercuria Energy Group as part of bankruptcy process.

Aegean Marine Petroleum, an international marine fuel logistics company, is to be acquired by Mercuria Energy Group, a privately held Swiss international commodity trading company, as part of bankruptcy process. The reorganizations plan has been accepted by the U.S. Bankruptcy Court for the Southern District of New York. Tyler Baron, Aegean Board Director, said: “With the support of Mercuria and our creditors, Aegean will emerge from the Chapter 11 restructuring significantly deleveraged, having reduced its funded debt by approximately 80%. Under Mercuria’s ownership, we will also have greater liquidity and supply capabilities than ever before and can serve our customers with a much broader suite of services. On behalf of the Aegean team, I want to thank all of our stakeholders for their support throughout this process.”