Gazpromneft Marine Bunker, part of Russian oil and gas giant Gazprom Neft, has acquired the Romanian bunkering operator Marine Bunker Balkan, which is based in the Black Sea.
The Gazprom Neft subsidiary supplies bunker fuel for marine and river vessels. The company is a leading operator in the bunker market and is present in all the major Russian ports. Its sales of ship fuel rose by 50 percent to 2.2 million tones in 2011.
The full acquisition of the share package was completed on March 1. Law firm Wolf Theiss assisted Gazprom Neft Marine Bunker on the take over.
“The due diligence process required special attention regarding the particularity of bunkering, including the sea transport sector,” said Ancuta Leach, Wolf Theiss partner that coordinated the deal.
The team of lawyers that worked on the buyer’s side included Ioana Iordanescu, Alexandru Campean, Claudia Chiper and Ioana Popescu.