Gunvor Acquires Stake In TAL Pipeline
INGOLSTADT, Germany, Dec. 6, 2012 /PRNewswire/ -- Affirming its long-term commitment to serving the German market, Gunvor Group ("Gunvor") has acquired a 10 percent stake in the Transalpine Pipeline (TAL), which supplies Gunvor Raffinerie Ingolstadt ("GRI"). This acquisition will allow Gunvor to secure a long-term crude supply to GRI. The deal closed December 4.
The Ingolstadt refinery, which Gunvor purchased in August, serves the markets in Southern Germany and Upper Austria, providing an important fuel supply and competition to the land-locked area.
In addition to Gunvor, shareholders in TAL currently include: OMV (25%); Shell (24%); Ruhr Oel (11%); Eni (10%); BP (9%); ExxonMobil (6%); ConocoPhilips (3%); and Total (2%).
SOURCE Gunvor Group
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV