Glencore completes majority stake acquisition of FincoEnergies

Swiss commodity trader and miner Glencore has completed its acquisition of a majority stake in Dutch fuel supplier FincoEnergies.

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Dutch investment firm Coloured Finches has reduced its stake to a minority shareholder in FincoEnergies, making Glencore the majority shareholder.

FincoEnergies supplies marine gasoil and biofuel blends at ports across the ARA hub. Its biofuel offerings range from B30 (30% biofuel) to B100 (100% biofuel).

This deal will expand FincoEnergies’ physical presence in northwest European markets.

The fuel supplier is “well positioned to continue expanding its offerings in biofuels and decarbonisation solutions across multiple transport segments,” it said in a LinkedIn post.

Existing minority shareholder Pontex will exit its investment as part of the transaction, FincoEnergies said when it announced the acquisition plan in December.

By Aparupa Mazumder

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