The European Commission has approved the proposed acquisition of UK-based biofuels producer Greenergy’s European business by commodities trading giant Trafigura. The decision followed a review under the EU Merger Regulation, concluding the transaction would not spark competition concerns due to limited combined market positions. Trafigura had announced its agreement in March to acquire Greenergy from Brookfield Asset Management and affiliate Brookfield Business Partners for an undisclosed amount. Greenergy, among Europe’s largest biofuels suppliers, operates plants in the UK and the Netherlands, serving as a major road fuel distributor in the UK. The acquisition will enable Trafigura to strengthen its fuel supply operations in Europe and expand its biofuels business. This comes against a backdrop of oil trading giants like Trafigura leveraging significant profits from recent market volatility to invest in refining and biofuels supply. In parallel, Trafigura is in exclusive talks to purchase ExxonMobil’s local refining and terminal assets through its consortium Rhne Energies.

Commodities Trading, Biofuels, Energy,Europe, United Kingdom, Netherlands