Hengeler Mueller advises Vitol and Carlyle on acquisition of 45% shareholding in Bayernoil refinery network

20. December 2013

Varo Energy B.V., a joint venture between the Vitol Group and the Carlyle Group, has signed an agreement to acquire the 45% stake in the German Bayernoil refinery network from OMV Deutschland GmbH. In addition to the stake in the refinery network, the transaction also includes the bitumen plant in Großmehring and the wholesale business related to Bayernoil.

The Vitol Group is the world’s largest independent energy trader. Its trading portfolio includes crude oil, oil products, LPG, LNG, natural gas, coal, electricity, agricultural products, metals and carbon emissions. Revenues in 2012 were USD 303 bn.

The Carlyle Group is a global alternative asset manager with USD 185 bn of assets under management (“AUM”) across 122 funds and 81 fund of funds vehicles. Carlyle's investments are focussed across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America.

Hengeler Mueller advised Vitol and Carlyle on the transaction. The Hengeler Mueller team included partners Georg A. Frowein, Peter Weyland, Frank Burmeister (all Corporate/M&A), Ernst-Thomas Kraft (Tax) (all Frankfurt), Alf-Henrik Bischke (Competition, Düsseldorf) and Christian Hoefs (Labour, Frankfurt) as well as associates Stephan Hennrich, Lucina Berger, Christoph Trautrims, Christoph Allmendinger, Gunther Wagner, Anne Broll, Matthias Löhle (all Frankfurt), and Christian Henning Müller (Düsseldorf).