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Trafigura to acquire Greenergy’s Canadian operations

Trafigura to acquire Greenergy’s Canadian operations
Trafigura agrees to acquire Greenergy's Canadian operations for an undisclosed sum (photo courtesy Greenergy).

Singapore-headed Trafigura Group Pte Ltd and UK-headed mid-stream oil company Greenergy International Ltd 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.

According to a statement, this complements Trafigura’s proposed acquisition of Greenergy’s European operations announced on March 4, 2024.

The acquisitions are subject to customary closing conditions and regulatory approvals.

Founded in 1992 to supply diesel with lower emissions, Greenergy is today one of Europe’s largest suppliers of biofuels with manufacturing plants in the UK and the Netherlands and a leading distributor of road fuels in the UK.

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, and bringing road fuels closer to our customers, said Christian Flach, CEO at Greenergy.

Greenergy entered the Canadian market in 2013. Its Canadian operations supply commercial and wholesale customers with a range of road fuels including higher percentage biodiesel blends from its rail-fed terminals in Ontario (ON) and British Columbia (BC).

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, commented Ben Luckock, Global Head of Oil at Trafigura.

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