Additional compliance burdens to be expected
20 December 2021
The Vitol Group and Sargeant Marine today announced that Vitol will be acquiring a 50% interest in Sargeant Marine. On completion, it is anticipated that the new, combined business will trade circa 1.3 million metric tons of asphalt per annum, with hubs in Florida, London and Singapore, and operate a fleet of thirteen specialist vessels.
The Vitol Group is the world’s largest independent energy trader. Its trading portfolio includes crude oil, oil products, LPG, LNG, natural gas, coal, electricity, agricultural products, metals and carbon emissions. Revenues in 2014 were USD 270 bn.
Sargeant Marine comprises a global trading operation which distributes asphalt to customers worldwide, and two strategically positioned terminals in Rotterdam, Netherlands and Constantza, Romania.
Hengeler Mueller advised Vitol Group on the acquisition as Transaction Counsel in an integrated team together with Best Friends law firm De Brauw Blackstone Westbroek (Netherlands) as well as Proskauer (USA), Nestor Nestor Diculescu Kingston Petersen (Romania) and Carlsmith Ball (Marshall Islands) as Local Counsel. The Hengeler Mueller team included partners Georg A. Frowein (M&A), Martin Klein (Tax) (both Frankfurt) and Alf-Henrik Bischke (Merger Control, Düsseldorf) as well as associates Johannes Honzen, Maximilian Bülau (both M&A), Martin Mohr (Tax) (all Frankfurt), Johannes Holzwarth and Christian Henning Müller (both Merger Control, Düsseldorf).
