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.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Schedule reliability among container lines drops to historic low

August represented a historic low point for container carriers' schedule reliability. Only three out of ten container vessels – or 33.6 percent – managed to deliver goods on time, according to new figures from Sea-Intelligence. Reliability hasn't been lower in the ten years the analyst firm has monitored reliability.

Related articles

Trial banner

Latest news

See all jobs