Vitol-Carlyle venture to buy Dutch firm Inter Oil B.V: Reuters

Varo Energy, a joint venture between the world’s top oil trader Vitol and private equity firm Carlyle Group, says it has signed an agreement to acquire 100 percent of the shares in Inter Oil B.V., the holding company of retail and wholesale businesses operating under the brand names “Brand Oil” and “Amigo” in the Netherlands.

Through the acquisition, VARO will expand its retail network in the Netherlands by 84 gas stations mostly situated in the north-east of the country

Together with its existing retail service station network, which VARO operates under the brand “Argos”, the company will operate nearly 150 fuel service stations in the Netherlands and Germany.