A consortium comprising Montfort Group and the Private Office of Sheikh Ahmed Dalmook Al Maktoum (the Private Office) has jointly acquired German energy company Uniper’s UAE-based crude oil processing and marine fuel trading business (Uniper Energy DMCC).  

The acquisition is expected to be completed in the coming months, subject to regulatory approvals, Geneva-headquartered Montfort said in a statement.  

The value of the deal was not disclosed.  

Uniper Energy DMCC is involved in producing and supplying IMO 2020-compliant low-sulphur fuel oils to the Fujairah market, one of the world’s largest and most rapidly growing bunker fuel markets.    

The facility has a 65,000 barrels per day crude processing capacity in Fujairah port and sells over 30 million barrels of low-sulphur fuel oil to the shipping industry each year, the statement said. 

(Edited by Brinda Darasha; brinda.darasha@lseg.com)