Vitol, Carlyle venture to merge with Argos

摘要

London-Fast-growing European downstream company Varo Energy-a joint venture between global trader Vitol and private equity fund The Carlyle Group-is set to expand further, hav- ing agreed to merge with Rotterdam-based oil trader and distribution company Argos. In a statement on Thursday, Varo and Argos said the enlarged group-which will continue to be called Varo Energy-would combine both companies’ downstream activi- ties, though it would exclude Argos’ participa- tion in the Nefco LPG business and the Argos marine bunkering unit.