All regulations towards acquisition are now fully complied with
Montfort Group and the Private Office of Sheikh Ahmed Dalmook Al Maktoum (the Private Office) are pleased to confirm that their acquisition of Uniper’s United Arab Emirates-based crude oil processing and marine fuel trading business (Uniper Energy DMCC) has been completed, following the fulfillment of conditions precedent and the receipt of regulatory approvals.
As previously announced, Uniper Energy DMCC is the market leader in the production and supply of IMO 2020 compliant low-sulphur fuel oils to the Fujairah market – one of the largest and most rapidly growing bunker fuel markets in the world. The business will be named Fort Energy Refining Middle East DMCC. Fort Energy is a wholly owned subsidiary of Montfort, a press release indicated.
The business operates a 65,000 barrels/day crude processing facility in the Port of Fujairah, selling over 30 million barrels of low-sulphur fuel oil to the shipping industry each year.
Montfort is a global commodity trading and related-asset investment company with a diverse portfolio of assets and innovative services in trading, shipping, retail, upstream, and downstream. It has offices in 10 countries across Europe, Africa, the Middle East, and Asia, the press statement concluded.
