Singapore-listed firm acquires 51% of Rompetrol France
Singapore Main Board-listed investment company CEFC International now controls 51% of Rompetrol France, which is the holding company of Dyneff S.A. Dyneff is one of the leading independent fuel distributors with operations in France and Spain.
The takeover is the result of CEFC International's purchase of CEFC Assets Management & Equity Investment (Hong Kong) from CEFC Shanghai Group Assets Management, according to a company release.
CEFC Assets Management & Equity Investment (Hong Kong) owns 51% interest in Rompetrol France.
The acquisition, approved by France and the European Commission on December 2016, translates to CEFC International investing in Dyneff's filling stations, a network of commercial agencies and two wholesale agencies, and established logistics infrastructure with strategic storage capabilities at the main Mediterranean and Atlantic ports.
"The completion of the acquisition of Dyneff unveils our growth strategy through acquisition and investment. Our investmentstrategy in Europe has made significant progress and this is a historical breakthrough for us," said Zang Jian Jun, Executive Chairman of CEFC International.
