Trafigura Group and Greenergy have announced that Trafigura has expanded its agreement with Brookfield Asset Management and its listed affiliate Brookfield Business Partners to include Greenergy’s Canadian supply operations for an undisclosed sum. This complements Trafigura’s proposed acquisition of Greenergy’s European operations announced on 4 March 2024. The acquisitions are subject to customary closing conditions and regulatory approvals.
Greenergy entered the Canadian market in 2013, and supplies commercial and wholesale customers with a range of road fuels including higher percentage biodiesel blends from its rail-fed terminals in Ontario and British Columbia.
Ben Luckock, Global Head of Oil at Trafigura, comments: ‘Greenergy’s Canadian business has strong commercial synergies with our global distillates, gasoline and biofuels business and our well-established commercial relationships across North America.’
Christian Flach, Greenergy CEO says: ‘Following the earlier announcement of Trafigura’s proposed acquisition of Greenergy’s European operations, we are delighted to now include our Canadian supply operations as part of the transaction. Trafigura’s financial strength will provide us with a robust platform for growth across Canada, helping us to expand our infrastructure facilities in strategic locations, bringing road fuels closer to our customers.’
