The combined business has the scale and capability to better service our customers; safely, efficiently and reliably across the region. For more information about VARO, please visit www.varoenergy.com. Global alternative asset manager The Carlyle Group and the Vitol Group of Companies announced a transaction intended to establish Varo Energy B.V. as a major midstream energy business in north-west Europe. For over 50 years we have used our networks and infrastructure to manage the flow of energy around the world, efficiently and responsibly. Hong Kong’s billionaire Cheng family, which controls a real estate and jewelry empire, is exploring a bid for European fuel supplier Varo Energy BV, people with knowledge of the matter said. Select location. For more information: www.vitol.com. Financial Terms were not disclosed. The Carlyle Group employs more than 1,450 people in 34 offices across six continents. Under the terms of the proposed transaction, Vitol and Carlyle International Energy Partners (CIEP) will each own 50% of an enlarged VARO Energy Group. The enlarged group, based in Zug (Switzerland), focuses on three core business areas: Argos’ participation in Nefco (LPG) and the Argos sea bunkering business do not form part of the merger. Roger Brown, CEO, commented: “This merger transforms Varo Energy into a major new downstream player in North West Europe. Varo Energy today announced that the merger between Argos and Varo Energy, first announced in May 2015, has been completed. (Vitol, Carlyle, Reggeborgh, Varo and Argos DSE are collectively referred to as "Parties".) Under the terms of the proposed transaction, Vitol and Carlyle International Energy Partners (CIEP) will each own 50% of an enlarged VARO Energy Group. Hong Kong’s billionaire Cheng family, which controls a real estate and jewelry empire, is exploring a bid for European fuel supplier Varo Energy BV, people with knowledge of the matter said. Its trading portfolio includes crude oil, oil products, LPG, LNG, natural gas, coal, electricity, agricultural products, metals and carbon emissions. Vitol Holding BV engages in the distribution and trading of energy products. Varo Energy today announced that the merger between Argos and Varo Energy, first announced in May 2015, has been completed. Rhytank AG, a joint-venture between Argos Switzerland and Fluvia Holding, an international tanker shipping and port logistics provider, currently employs 21 staff and will become a wholly owned entity of Varo Energy effective 3 September. Vitol is an energy and commodities company. Vitol is an energy and commodities company. Abidjan; Accra; Adana; Adelaide; Agadir; Amsterdam; Ankara Esenboga 1. Roger Brown Named Chief Executive Officer of VARO. 19-12-2013. Press The Carlyle Group and Vitol Group invest in VARO Energy 19 December 2014 Read article; Press VARO Energy completes acquisition of Total Suisse storage … Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Commenting on the transaction, Ian Taylor, President & CEO, Vitol, said: “This transaction will enable Varo Energy to benefit from the synergies of consolidation and an extensive storage and distribution network. Vitol Vitol is an energy and commodities company with revenues of over $300 billion. Read more. VARO acquires German wholesale distributor Gekol and its subsidiary Marol. In conjunction with CIEP’s investment into Varo Energy, Varo Energy will acquire from Vitol all shares in PT Holdings GmbH, the holding company for Petrotank Neutrale Tanklager GmbH and all shares in Vitol Germany GmbH. Under the terms of the proposed transaction, Vitol and Carlyle International Energy Partners (CIEP) will each own 50% of an enlarged Varo Energy Group. Varo Energy will expand its refining capability in Switzerland and Germany and acquire complementary pipeline, storage and wholesale distribution businesses London, UK – Global alternative asset manager The Carlyle Group and the Vitol Group of Companies today announced a transaction intended to establish Varo Energy B.V. as a major midstream energy business in north-west Europe. Its assets will include the Cressier refinery in Switzerland, all the Petrotank storage facilities throughout Germany, additional storage facilities in Switzerland, and – after the acquisition from OMV also a 45% shareholding in the Bayernoil refinery in Bavaria, Germany. This merger transforms Varo Energy into a major new downstream player in North West Europe, led by Roger Brown, the current CEO of Varo Energy. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, technology & business services, telecommunications & media and transportation. Vitol is an energy and commodities company. Furthermore, Varo Energy will also acquire, by means of a separate transaction, all shares currently held by OMV Deutschland GmbH (Vienna SE – OMV:AV) in Bayernoil Raffineriegesellschaft mbH, as well as certain downstream assets owned by OMV Deutschland GmbH. Each of the transactions described above are subject to regulatory approvals and other customary closing conditions. It offers crude oil, middle distillates, gasoline, naphtha, liquefied petroleum gas (LPG), fuel oil, bitumen, methanol, ethanol, liquefied natural gas (LNG), natural gas, power, coal, iron ore, and alumina. Transforming light crude oil and condensates to produce naphtha, jet fuel, gas oil and residuals, it is strategically located to service customers across the region. Global alternative asset manager The Carlyle Group and the Vitol Group of Companies today announced a transaction intended to establish Varo Energy B.V. as a major midstream energy business in north-west Europe. Read more about our shareholders. VARO’s shareholders include private investment company Reggeborgh; Carlyle International Energy Partners, an advisory fund which is part of the global alternative asset manager The Carlyle Group; and international energy and commodities company Vitol. Argos’ existing operations will continue to trade under the Argos name out of Rotterdam with activities in Benelux, France, Germany and Switzerland. It follows an aborted IPO plan from Vitol’s European downstream venture, Varo Energy, which pulled its Amsterdam flotation last month. Cham, 25th August 2020 - VARO Energy (VARO) today announces that it is the first company to offer its customers in Germany the possibility to meet some of the mandatory 6% FQD (Fuel Quality Directive) obligation through Upstream Emission Reductions (UERs) Certificates. (Vitol, Carlyle, Reggeborgh, Varo and Argos DSE are collectively referred to as "Parties".) We sit at the heart of global energy flows, moving energy from source to customer quickly, responsibly and cost-effectively. Web:www.carlyle.com Videos:www.youtube.com/onecarlyle Tweets:www.twitter.com/onecarlyle Podcasts: www.carlyle.com/about-carlyle/market-commentary/481. It is an exciting development which underlines our commitment to Varo Energy and north-west Europe.” About Vitol Hong Kong’s billionaire Cheng family, which controls a real estate and jewelry empire, is exploring a bid for European fuel supplier Varo Energy BV, people with knowledge of the matter said. Energy B.V ("Varo") which will be merged with Argos Downstream Europe B.V ("Argos DSE")3. 2014 September. AtlasInvest will sell its shareholding in VARO Energy to CIEP while Vitol will reduce its current stake to enable each party to own 50%. Vitol-backed Varo Energy and GoodFuels are stepping up their biofuel drive for shipping. Varo Energy is a joint venture between Vitol, the world's largest independent oil trader, and the Carlyle Group, one of the world's largest alternative asset managers. Under the terms of the proposed transaction, Vitol and Carlyle International Energy Partners (CIEP) will each own 50% of an enlarged Varo Energy Group.… LONDON: Oil trader Vitol and private equity giant Carlyle will list their European downstream venture Varo Energy in Amsterdam this year, looking to … The CIEP team focuses on transactions where it has a distinctive competitive advantage and can create tangible value for companies in which it invests, through industry specialization, deployment of human capital and access to Carlyle’s global network. The company refines, stores, and distributes oil products in The Netherlands , Switzerland, Germany, and France. VARO is backed by a diverse group of shareholders that includes Carlyle International Energy Partners, Reggeborgh and Vitol. 28/09/2020 - Devon Energy and WPX Energy to Combine in Merger of Equals, Creating a Leading Energy Company Focused on Generating Free Cash Flow and Return of Capital to Shareholders 18/12/2019 - Devon Energy Announces Sale of Barnett Shale for $770 Million; Announces New $1 Billion Share-Repurchase Program 28/06/2019 - Devon Energy Completes Sale of Canadian Business Energy B.V ("Varo") which will be merged with Argos Downstream Europe B.V ("Argos DSE")3. This site uses cookies to provide you with a great user experience. 1. Varo Energy is a partnership between the global alternative asset manager The Carlyle Group and international energy and commodities company Vitol. 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