Announced
Financials
Sources
Tags
Germany
Oil Refining and Marketing
oil refinery
Acquisition
Cross Border
Minority
Infrastructure
Private
Pending
Friendly
Single Bidder
Synopsis
The Prax Group, an independent global energy conglomerate, agreed to acquire a 37.5% stake in the Schwedt refinery from Shell, a British multinational oil and gas company headquartered in London. Financial terms were not disclosed. The transaction aligns strategically with the Prax Group’s recently completed acquisition of the OIL! Tankstellen petrol retail network, substantially enhancing the Group’s customer offering on continental Europe. This will in turn see the Prax Group become a significant presence in the German market and a major player in the European refining sector.
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