Montfort Group and the Private Office of Sheikh Ahmed Dalmook Al Maktoum (the Private Office) have agreed to jointly acquire Uniper’s United Arab Emirates-based crude oil processing and marine fuel trading business (Uniper Energy DMCC). The parties agreed to not disclose the agreed purchase price, and the acquisition is expected to be completed in the coming months, subject to regulatory approvals, according to Montfort's release.
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 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.
Uniper is an international energy company with activities in more than 40 countries. Uniper’s core businesses are power generation in Europe, global energy trading, and a broad gas portfolio.
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.