Trafigura agrees to buy more of Greenergy’s foreign ops

Trafigura Group Pte Ltd has agreed to buy the Canadian supply operations of British road fuels supplier and biodiesel producer Greenergy from an affiliate of Brookfield Asset Management (TSE:BAM), expanding a recent deal for Greenergy’s European business.

The statement released today follows the commodities trader's announcement in early March that it will acquire Greenergy’s European business from Brookfield Business Partners (NYSE:BBU).

The financial details of both deals, which require regulatory clearance, were kept under wraps.

In Canada, Greenergy supplies commercial and wholesale customers with a range of road fuels including higher percentage biodiesel blends from its rail-fed terminals in Ontario and British Columbia. The company has been present in the country since 2013.

“Greenergy’s Canadian business has strong commercial synergies with our global distillates, gasoline and biofuels business and our well-established commercial relationships across North America,” said Ben Luckock, global head of oil at Trafigura.

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