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Tue 24 Nov 2009 02:31

Bominflot acquires control of SBI -source


German bunker supplier is reported to have acquired rival firm SBI Holding BV.

German marine fuel supplier Bominflot Bunkergesellschaft mbH & Co. KG has acquired control of rival bunker firm SBI Holding BV , according to news agency Reuters.

In a document listing mergers and acquisitions currently under review by the European Commission, Bominflot is said to have already taken control of 'the whole of SBI Holding BV' and to have notified the European Commission about the acquisition on November 18th. The review deadline date is December 23rd.

The European Commission has 25 working days after a deal is filed for a first-stage review. This may be extended to 35 working days, to consider either a company's proposed remedies or an EU member state's request to handle the case.

Most mergers win approval but occasionally the Commission opens a detailed second-stage investigation for up to 90 additional working days, which it may extend to 105 working days.

Bominflot is a leading global marine fuel supplier and trader with physical supply operations in a number of locations including Germany, Gibraltar, Panama, Las Palmas, Ceuta, Genoa, Kali Limenes, Singapore, Hong Kong, Houston, New York and Philadelphia.

Dutch firm SBI Holding BV is controlled by Seatrade Holding BV. SBI has been operating as a worldwide trader of bunker fuels and lubricating oils since 1990. Its network includes Cyprus-based Sea Med Bunkering Ltd., US broker Sea Bunkering Americas LLC and Oliehandel Klaas de Boer BV, a physical bunker supplier in Amsterdam, IJmuiden and Rotterdam.

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