Carlyle-Vitol Venture to Buy Bayernoil Refinery Stake
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Carlyle Group LP and Vitol Group agreed to buy a 45 percent stake in Germany’s Bayernoil refinery from OMV AG as they expand oil-processing, distribution and storage operations in northwestern Europe.
Carlyle and Vitol will acquire the plant as part of an investment in Varo Energy BV, OMV said today in a statement on its website, without disclosing terms. The purchase, confirmed by the buyers, also includes a bitumen plant in Grossmehring.