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    Deal between Grindrod and Vitol approved

    The European and South African Competition authorities have approved the transaction announced in March 2012 in which Grindrod Limited‚ the integrated logistics and shipping business‚ agreed to sell a 50% interest in Cockett Marine Oil (Cockett) to Vitol‚ the largest independent energy trading business in the world.
    27 Sep 2012
    27 Sep 2012
    Deal between Grindrod and Vitol approved

    Cockett is one of the leading value added resellers and physical marine fuel suppliers in the world with a network of offices across Europe‚ Americas and Far East providing a global service to shipping clients. It delivers approximately five million tonnes of marine fuels annually and is also developing a network of physical supply operations in strategic locations.

    "Vitol is the ideal partner to support Cockett's global growth strategy," said Karl Beeson‚ Managing Director Cockett Marine Oil.

    Ian Taylor‚ President and CEO of the Vitol Group‚ said: "We are pleased to have broadened our relationship with Grindrod with the purchase of 50% of Cockett‚ one of the leading value added resellers of marine fuels. It is an important addition to the Vitol Group and a source of future growth."

    Read more: Grindrod, Cockett Marine Oil, Grindrod Limited, Vitol Group, Vitol
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    Source: I-Net Bridge

    For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

    We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

    Go to: http://www.inet.co.za
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