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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Mercuria HK firm now owns 17.458m shares in Aegean Marine

Shares are owned by Mercuria Asset Holdings (Hong Kong) Ltd.



Image credit: Pixabay CC0


Updated on 31 Aug 2018 10:20 GMT

Mercuria Asset Holdings (Hong Kong) Ltd (Mercuria HK) now owns 17.458m shares in Aegean Marine Petroleum Network Inc, a filing issued on Thursday with the US Securities and Exchange Commission (SEC) reveals.

Aegean's equity price is currently $1.8 per share, which would value Mercuria HK's shareholding at $31.4m.

The bunker firm's market cap is currently around $70.9m and the total number of outstanding shares is 39.4m. It means that Mercuria HK now holds roughly 44.3 percent of this stock.

As reported earlier this month, Aegean agreed to issue to Mercuria new shares equal to 30 percent of its common stock (on a pro-forma basis) as part of an agreement in which Mercuria became the sole lender of Aegean under the bunker firm's existing revolving credit facilities.

A letter of agreement was signed by both companies detailing the $30m of increased liquidity that Mercuria will be making available to Aegean.

Mercuria will be providing $250m and $750m ($1 billion in total) in revolving credit facilities to finance the US and global businesses, respectively, up until at least January 31, 2019.

Ownership breakdown

Cyprus-registered Mercuria Energy Group Ltd (MEG Ltd) is the parent company of Mercuria HK, whilst British Virgin Islands firm Mercuria Energy Group Holding Ltd (MEG Holding) has 79.8228 percent of the capital stock of MEG Ltd, including 100 percent of its voting capital stock.

MDJ Oil Trading Ltd (MDJ), registered in Guernsey, owns 41.07 percent of the capital stock of MEG Holding; and MDJ Partnership, a Guernsey partnership, owns 100 percent of the capital stock of MDJ.

The partnership interests in the capital stock of MEG Holding owned by MDJ are 44.31 percent owned by Marco Dunand (co-founder, CEO and chairman of MEG Holding), and 39.44 percent owned by Daniel Jaeggi (co-founder, president and director of MEG Holding).

Mercuria ESOP Ltd, a Marshall Islands business, owns 20.334274 percent of MEG Holding and 20.1772 percent of the non-voting capital stock of MEG Ltd.






Related Links:

Done in a month: Mercuria takes 30% stake in Aegean as refinancing transaction is agreed
Mercuria in MoU with Aegean to provide $1bn refinancing and secure 30% stake
Aegean shares more than triple following Mercuria MoU
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