M&A Returns

This week Aegean Marine Petroleum Network (“Aegean”) announced an agreement to acquire Verbeke Bunkering N.V., a leading physical supplier of marine fuels in the Antwerp-Rotterdam-Amsterdam range, which is the world’s second largest bunkering market. A family controlled company with a history of more than 100 years, Verbeke provides services in port to ship operators, marine fuel traders, brokers and other users. Acquiring marine fuels from refineries and major oil producers, the company provides same day sales and service to its customers. For the year ended 2009, the company’s sales volume was approximately 3.5 million metric tons, which represents over half of Aegean’s 2009 volumes. No price was disclosed.

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