Trafigura gets EU nod to buy some of Greenergy’s biofuel ops

The European Commission (EC) on Tuesday cleared without conditions Trafigura Group Pte Ltd’s agreement to acquire certain biofuel operations of British road fuels supplier and biodiesel producer Greenergy related primarily to the supply of biodiesel, ethanol and bioethanol.

Specifically, the EU merger regulator has cleared Trafigura's takeover of UK-based Greenergy Halo Holdings III Limited. It has concluded that the notified transaction would not raise competition concerns, given the companies' limited combined market position resulting from the proposed deal, it said in a statement.

Trafigura first agreed in March to buy Greenergy’s European business and then announced in May an acquisition deal for its Canadian supply operations, as well.

The assets will be purchased from Brookfield Asset Management and its affiliate Brookfield Business Partners. Financial details remain undisclosed.

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