Albania Oil Refinery Company Bought by US Swiss Group
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Tuesday, 10 June 2008 |
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It has been announced that a U.S.-Swiss group won a tender
for 85 percent of Albanian oil refiner ARMO for €125 million ($197.6 million), Albania Energy Ministry spokeswoman Iva
Tico told local media.
"We are notifying the participants of this result and are
sending the final report to the government for approval," Tico
said.
The winning group is made up of Refinery Associates of Texas
and Swiss-based Anika Enterprises SA and Mercuria Energy Group
Ltd.
The group beat independent trader Vitol which offered 97
million euros for the company, which has a refinery at Ballsh, a
smaller one at Fier and a small network of petrol stations. U.K. oil
services company Petrofac had offered €30 million and Czech-based Penta
Investments offered €10 million.
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