VARO Energy to acquire Preem in major Nordic energy deal
The deal includes the company’s fuel retail operations across Sweden alongside major refining assets in Lysekil and Gothenburg.
VARO Energy has signed a definitive agreement to acquire 100% of the shares in Corral Petroleum Holdings AB, the parent company of Preem Holdings and Sweden’s largest fuel company.
The transaction includes Preem’s major refining operations in Lysekil and Gothenburg, as well as its nationwide network of over 500 fuel stations and storage infrastructure. With this integration, Sweden would become the largest manufacturing base for the combined entity, positioning the new group as a leading energy supplier across road, marine, and aviation segments during the ongoing energy transition.
“Together, we would enhance business know-how, ensure long-term stability, and reinforce strategic development, which, when combined, would support our future growth and success. Furthermore, the combined businesses would benefit our customers, achieve greater resilience, and contribute to Swedish and European energy security,” said Magnus Heimburg, CEO of Preem.
The acquisition is subject to regulatory approval under Swedish and international frameworks, including the Swedish Foreign Direct Investment Act and the Protective Security Act.
VARO Energy, headquartered in Switzerland, operates across 26 countries and employs more than 2,300 people. The company supplies a mix of conventional and sustainable energy solutions across Europe.
