Klesch Group’s Acquisition of Equinor Refining Denmark

Plesner has assisted Equinor in connection with the sale.

Equinor has agreed to divest its Danish refining business, Equinor Refining Denmark, to industrial commodities company Klesch Group.

The assets considered for sale include the Kalundborg oil refinery and terminal located in the northwest of Zealand, the Hedehusene terminal near Copenhagen, and associated infrastructure and industrial property.

The deal, however, excludes Equinor’s ownership and/or operation of Danske Commodities, an energy trading house that specialises in electricity and gas.

The employees of Equinor Refining Denmark will be moved to the Klesch Group once the transaction is closed.

The Kalundborg refinery was built in 1961 and was acquired by Equinor in 1986. The plant can process 107,000 barrels a day of crude oil and condensate for gasoline, diesel, propane and heating oil. Annual production capacity is up to 5.5 million tonnes of oil products.

The Klesch Group is an international industrial commodities group founded in 1990. The company is involved in the production and trading of oil and metals, as well as other global commodities and related financial derivatives. The group currently employs 650 professionals across seven locations in five countries.

Plesner’s team on the transaction consisted of Niklas Korsgaard Christensen (Picture), Nicolai Ørsted, Simon Skjold Jensen og Sofie Riisgaard Mathiesen.

Involved fees earner: Niklas Korsgaard Christensen – Plesner; Simon Skjold Jensen – Plesner; Nicolai Ørsted – Plesner;

Law Firms: Plesner;

Clients: Equinor – Equinor Ventures;

Author: Federica Tiefenthaler