BIOPETROL INDUSTRIES AG
BIOPETROL INDUSTRIES AG: Approval granted by the cartel authorities for the takeover by Glencore
BIOPETROL INDUSTRIES AG / Miscellaneous 23.02.2010 14:15 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- BIOPETROL INDUSTRIES AG: Approval granted by the cartel authorities for the takeover by Glencore - GLENCORE is the new majority shareholder - Takeover completed with retrospective effect of 1 January 2010 - Economies of scale and extended value chain - Full utilisation of production capacity planned for the medium term Zug, 23 February 2010: The cartel authorities have approved the takeover of the majority of the shares in BIOPETROL INDUSTRIES AG by Glencore. Glencore agreed with the former majority shareholder on 29 December 2009 to take over as a first step 50% plus one share of the holding of the former majority shareholder. GLENCORE also has the option of raising its participation to a two-thirds majority. The shares would also come from the holding of the former shareholder. In accordance with the rules of Deutsche Börse's Entry Standard it is not necessary to make a mandatory offer. The parties agreed not to disclose the details concerning the contractual agreements and the purchase price for the shares. In order to secure the competitiveness of BIOPETROL for the long term in an extremely difficult and political market for biofuels and at the same time strengthen its market position in Europe, it was necessary to create economies of scale and to extend the value chain. For both goals the new majority shareholder Glencore is the ideal partner with its global commodity trading activities. The combination of a financially strong trading platform and a modern production base located in an excellent logistical position has created the essential conditions for the full utilisation of BIOPETROL INDUSTRIES AG's production capacity in the medium term. For instance on 25 January the first of two biodiesel plants successfully commenced operations in Rotterdam. About the company: With its German, Dutch and Swiss subsidiaries, BIOPETROL INDUSTRIES AG, which has its head office in Zug (Switzerland), produces and sells biodiesel and pharmaceutical-grade glycerine of the highest quality. Among our customers are the oil industry and oil traders, large-scale fleet operators, public short-distance transport, as well as the agricultural and construction industries. The pharmaceuticals and cosmetics industries are in addition supplied with bioglycerine of pharmaceutical quality. At the present date, BIOPETROL INDUSTRIES AG has annual productive capacities in Schwarzheide and Rostock of around 350,000 tonnes of biodiesel and 30,000 tonnes of pharmaceutical-grade glycerine. In Rotterdam, BIOPETROL is building an installation with an annual productive capacity of 400,000 tonnes of biodiesel and 60,000 tonnes of bioglycerine. Annual capacity should then be more than doubled to a total of 750,000 tonnes of biodiesel. Further expansion of capacity in Rotterdam is planned. We are working actively on extending our product range, based on the coproduct bioglycerine. About Glencore: The Glencore Group of Companies ('Glencore') is one of the world's largest suppliers of commodities and raw materials to industrial consumers. Customers around the world, in industries such as automotive, power generation, steel production and food processing, rely upon Glencore's established global network of operations as a source of Metals and Minerals, Crude Oil and Oil Products, Cl and Agricultural Products. These commodities originate either from Glencore's owned production assets, are secured from third parties, or benefit from the refining, processing or marketing expertise of Glencore. The Group also provides financing, logistics and other supply chain services to producers and consumers of commodities. Glencore, founded in 1974, is a privately held Group owned by its management and employees. Headquartered in Baar, Switzerland, Glencore employs over 2,000 people in its global marketing operations in some 50 offices in over 40 countries. In its industrial operations, Glencore employs over 50,000 people at 15 plants in 13 countries. Additionally, Glencore has interests in various publicly listed companies including 34.5% in Xstrata, 44% economic (39% voting) in Century Aluminum, 70.6% in Minaral Resources, 72.2% in Katanga Mining and 32.2% in Recylex. Disclaimer This press release represents neither an offer for sale nor a request for the submission of an offer to purchase or subscribe to securities. This announcement and the information contained therein are not intended to be directly or indirectly passed on to or within the United States of America, Canada, Australia or Japan. Contact Public Relations Andrea Beyer Telephone +49 (0) 211 15 77 96 10 Mail: andrea.beyer@biopetrol-ind.com Contact Investor Relations Gerd Rückel Telephone +49 (0) 69 577 0 300 31 Mail: gerd.rueckel@biopetrol-ind.com 23.02.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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