In Switzerland, VARO Energy has reached an agreement to acquire Preem Holding AB and Preem AB through the purchase of 100% of the share capital of the parent company, Corral Petroleum Holdings AB (CPH), in an all-cash transaction.
Subject to customary closing conditions and the receipt of regulatory approvals the transaction is expected to be completed in the second half of 2025.
Preem has invested nearly $1 billion since 2010 in the production of renewable fuels and initiatives aimed at reducing the carbon intensity throughout the value chain.
Preem owns two major fuel manufacturing facilities in Sweden, at Lysekil and Gothenburg. The two facilities have a combined capacity of 352,000 barrels per day, which equates to 80% of Sweden’s refining capacity, and the ability to co-process renewable feedstock.
More on the story.
