Saturday, September 24, 2022

German Equity group wants all Petroplus refineries

A MAJOR German private equity company says it is considering buying all five refineries from troubled Swiss oil refiner Petroplus.

Goldsmith is already a shareholder in the Swiss company and has shown interest in snapping up refineries in Cressier in the canton of Neuchâtel, as well as in Britain, Belgium, Germany and France reports World Radio Switzerand.

The company said it thinks the refineries are interesting and still sustainable despite market turbulence.

The refineries have seen a number of serious possible buyers with more than 40 for the lucrative British site and 10 or so for the Swiss site.

Petroplus was forced to shutter sites after lenders froze a one-billion-dollar credit line in the face of sluggish sales and demand.

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