St1 NORDIC OY, COMPANY RELEASE, 27 NOVEMBER 2017 AT 2PM EET
St1 buys marine business in Norway
Alimentation Couche-Tard has decided to sell 100% of the shares in Statoil Fuel & Retail Marine AS to St1 Norge AS. The parties signed the agreement on 27 November, and the deal is now pending approval from the relevant competition authorities.
Statoil Fuel & Retail Marine AS (SFR Marine) delivers fuel to the marine sector along the Norwegian coast, it has 8 employees. The company was formerly a part of Statoil, but was sold together with the Statoil service stations to Alimentation Couche-Tard in 2012.
The sales agreement means a change of ownership of all the shares in "SFR Marine". The customer offer will not be changed due to the transaction. SFR Marine's employees will remain employed by the same legal entity as before the sale.
The deal, which is subject to standard regulatory approvals and closing conditions, is expected to be completed first quarter 2018.
St1 is a Nordic energy group whose vision is to be the leading producer and seller of CO2-aware energy. The company researches and develops economically viable, environmentally sustainable energy solutions. St1 consists of two sister groups: St1 Nordic focuses on fuels marketing activities in Finland, Sweden and Norway and on renewable energy solutions such as waste-based advanced ethanol fuels and industrial wind power. The company has 1400 St1 and Shell branded retail stations in Finland, Sweden and Norway. The sister group St1 Group focuses on oil refining. Headquartered in Helsinki, the company employs currently 700 people in Finland, Sweden and Norway. St1 Group is planned to merge into St1 Nordic on 31 December 2017.
"Because the sale of marine products is non-core business for Circle K, we think the change of ownership is the right decision for SFR Marine, to ensure development and robustness of the business, to the benefit of employees, customers and partners," says Christian Rykke, Vice President Finance Development, Circle K Europe.
"This acquisition expands St1's existing presence in Norway - giving us a foothold to expand offerings further in the Nordic market," says Mika Wiljanen, Managing Director of St1 Norge AS and St1 Oy.
For further information, please contact:
Mika Wiljanen, Managing Director, St1 Norge AS, +358 40 1946 784, www.st1.eu, www.st1.no
Liisa Joenpolvi, Communications Manager, St1 Nordic Oy, + 358 50 4110 025, liisa.joenpolvi@st1.fi
Pål Heldaas, Senior Director Communication, Circle K AS, +47 97 07 97 63, palhel@circlekeurope.com