Trafigura and Meroil S.A. create a joint venture company
Trafigura, a market leader in the global commodities industry, has completed the acquisition of 50 percent of the shares in Meroil Tank S.L. (“Meroil Tank”) from the oil operator Meroil S.A., for an undisclosed sum. This follows receipt of the applicable regulatory approvals, according to Trafigura's release.
Meroil Tank will now operate as a 50:50 joint venture company with assets that include 356K m³ of refined oil products storage infrastructure within the port of Barcelona. The company will continue to serve its current as well as future customers to store refined oil products including gasoil, gasoline and jet fuel, as well as biofuels.
Founded in 1993, Meroil was the first independent operator in the country. Its founding shareholders were individuals or companies owning small networks of service stations or distributors, primarily located in the area of Catalonia; the oil operator’s activity began in this region and soon expanded to the rest of Spain. Today, Meroil has a network of service stations with a presence throughout the territory, providing products to fleets of ships, commercial airlines and the industry. Meroil has the largest coastal terminal in Spain for the storage of oil products and biofuels, connected to the national pipeline system.
Trafigura is a leading commodities group, owned by its employees and founded over 30 years ago. The Trafigura Group comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, our Impala Terminals joint venture company and Greenergy, supplier and distributor of transportation fuels and biofuels. The Group employs over 12,000 people, of which over 1,400 are shareholders and is active in 156 countries.
