Hengeler Mueller advises Vitol Group on acquisition of further 50 % stake in VALT B.V.

20. March 2019

Vitol has entered into a purchase agreement with Sargeant Marine for 50 % of the shares in VALT B.V., a bitumen joint venture established by the parties in 2016. After completion of the transaction, which is subject to antitrust approvals, Vitol will hold a 100 % stake in VALT B.V. which will be integrated into Vitol's core trading business. The acquisition will make Vitol a leader in the trading, storage and marine transportation of asphalt products around the world, with a dedicated fleet of eleven specialized vessels and hubs in Asia, Europe and the USA. The trading volume is approximately 1.4 million tons of asphalt per year.

Hengeler Mueller advised Vitol on the acquisition as transaction counsel in an integrated team together with Best Friends law firm De Brauw Blackstone Westbroek (Dutch law) as well as Dykema (US law). The Hengeler Mueller team included partners Georg A. Frowein, Joachim Rosengarten (both M&A), Martin Klein (Tax) (all Frankfurt), Alf-Henrik Bischke (Antitrust, Düsseldorf) as well as associates Nikita Gontschar, Johannes Baumann (both M&A), Sebastian Heinrichs (Tax) (all Frankfurt) and Anja Balitzki (Antitrust, Düsseldorf).