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Mercuria increases offer for Aegean after equity funds show interest

After two equity funds announced bids for bunker company Aegean Marine Petroleum last week, the original bidder, Mercuria, has now increased its bid. The equity funds are now "withdrawing from the contest," reports Ship & Bunker.

Photo: Aegean Marine Petroleum

Mercuria Energy Group increases its bid for bunker company Aegean Marine Petroleum Network, reports Ship & Bunker.

The company previously offered USD 530 million for Aegean, but it emerged last week that the two equity funds Oaktree Capital Management and Hartree Partners have also entered the field with a bid on Aegean. The two equity funds' offer to acquire the restructured Aegean business is somewhat lower, at USD 135 million.

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