Rhône Energies to Acquire Esso’s Refinery in France

Business Acquisition Rhône Energies to Acquire Esso’s Refinery in France

2024-08-02 Source: Press release Trafigura 1 min Reading Time

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Rhône Energies has entered into a sales agreement with Esso for acquiring its Fos-sur-Mer refinery as well as its Toulouse and Villette-de-Vienne terminals in France. With this acquisition, Rhône Energies intends to capitalize on the refinery’s existing skilled teams and strong manufacturing performance.

All parties have now signed a sales agreement following the completion of the information and consultation procedure with employee representative bodies.(Source: Pixabay) — All parties have now signed a sales agreement following the completion of the information and consultation procedure with employee representative bodies.
(Source: Pixabay)

Geneva/Switzerland – Rhône Energies, a consortium composed of Entara and Trafigura, has reached an important milestone in the acquisition process of the Fos-sur-Mer refinery and the Toulouse and Villette-de-Vienne terminals from Esso. All parties have now signed a sales agreement following the completion of the information and consultation procedure with employee representative bodies.

This is a key step towards the transfer of ownership of the site which remains subject to the required regulatory approvals. Discussions with the relevant authorities are ongoing and the necessary authorizations are expected by the end of October 2024.

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“We are delighted to have finalized the sales agreement for the Fos-sur-Mer refinery and the Toulouse and Villette-de-Vienne terminals. We look forward to continuing our engagement with the operational management and the transition team, to ensure a smooth transition of operations. Discussions with national and local stakeholders have been particularly constructive, and we remain committed to collaborating with all parties on operations and our future plans,” said Entara’s CEO, Nicholas Myerson.

With this acquisition, Rhône Energies plans to capitalize on the refinery’s existing skilled teams and strong manufacturing performance. The company aims to further improve crude flexibility, process utilization and to maximize high value products, while investing in personnel and process safety.

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