Swiss Trader to Acquire Propylene-Producing Refinery in Germany

Gunvor Group (Geneva), an independent commodity trading company, says it has signed an agreement to acquire the assets of Petroplus's refinery at Ingolstadt, Germany and related German marketing activities. Petroplus's Ingolstadt refinery is a major producer of propylene, among other refinery products. The acquisition is subject to customary closing conditions, and clearance from the pertinent regulatory authorities. The deal is expected to be completed in the third quarter of 2012, with support from the local and German national authorities, Gunvor says. The...

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