OW Bunker Acquire Bergen Bunkers

Press Release
Wednesday, October 24, 2012

OW Bunker to acquire the entire share capital of marine fuels & lubricants supplier Bergen Bunkers AS.

Bergen Bunkers has offices in Bergen and St Petersburg, and provides fuel and lubricants to some of Norway's leading ship owners and operators, as well as global customers. Bergen Bunkers employs 12 staff, and will retain its existing brand name, operating as an integrated and wholly owned subsidiary of OW Bunker.

Sveinung Juvsett, Managing Director, Bergen Bunkers AS, said:´OW Bunker provides a good strategic fit for Bergen Bunkers. With the financial strength and global scale of OW Bunker there are clear synergies between both organisations, which we plan to optimise for the benefit of all our customers.¡
 
Götz Lehsten, Executive Vice President, OW Bunker, said: ´This is a significant acquisition for OW Bunker that further strengthens our operations in Scandinavia. Bergen Bunkers is an excellent brand name with a great reputation, and provides us with a good opportunity to further grow our position in an important region for our customers.
 
The acquisition is expected to be finalised by the end of November 2012, following approval from the relevant competition authorities.

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