Uniper completes sale of UAE-based bunker trading business Uniper Energy DMCC

German firm Uniper on Wednesday (31 May) said it completed the sale of 100% of the shares in its United Arab Emirates-based crude oil processing and marine fuel trading business (Uniper Energy DMCC) to a consortium of Montfort Group and the Private Office of Sheikh Ahmed Dalmook Al Maktoum, following the fulfilment of conditions precedent and the receipt of regulatory approvals.

“Divestment of this non-strategic participation is part of the remedies Uniper must fulfil under EU state aid law,” it said in a statement. 

“On December 20th 2022, the EU Commission approved the stabilisation package for Uniper under state aid law. As part of the approval, the EU Commission set out a number of structural remedies that Uniper must fulfil. One of them is the divestment of Unipers marine fuel trading business. With the completion of Uniper Energy DMCC, Uniper successfully divested the second participation of the required remedies.”

Manifold Times previously reported Uniper reaching an agreement to sell 100% of the shares in Uniper Energy DMCC to the consortium. 

Related: Uniper signs deal to divest its UAE-based bunker trading business to consortium
Related: Argus Media: Uniper concludes Fujairah bunker fuel refinery sale tender
Related: Uniper to divest Middle East bunkering business as condition for stabilisation package

Photo credit: Uniper
Published: 1 June, 2023