Fri 31 Oct 2008 09:27

US firm increases Petroplus shareholding


Ownership stake increase for California-based holding company.



Petroplus Holdings AG, has announced that The Capital Group Companies, Inc. (CGC), a holding company for a number of subsidiaries, has increased its ownership interest in the Swiss oil refining and marketing firm.

California-based CGC increased its ownership interest through its direct and indirect subsidiaries, to 3,388,172 registered shares of Petroplus and 75,462 conversion rights for ordinary shares due to an acquisition on October 24th, 2008.

This represents 4.94 percent registered shares and conversion rights of 0.11 percent for a total shareholding of approximately 5.05 percent.

The funds are managed by Capital Research and Management Company (CRMC), and clients managed by Capital Guardian Trust Company (CGTC), Capital International Limited (CIL), Capital International Inc. (CII), and Capital International S.A. (CISA).

CGC is a holding company for several subsidiary companies engaged in investment management business. The investment management business is divided into two operational groups, represented by CRMC and Capital Group International, Inc. (CGII).

CRMC is a U.S.-based investment adviser that manages The American Funds Group of mutual funds. CGII is the parent company of five companies that serve as investment managers to various institutional clients around the globe: CGTC in the U.S., CII in the U.S. and Singapore, CIL in the United Kingdom, and CISA in Switzerland. CRMC and CGII are 100% affiliates of CGC. CGTC, CII, CIL and CISA are 100% affiliates of CGII.

Petroplus Holdings AG is the largest independent refiner and wholesaler of petroleum products in Europe. The company focuses on refining and currently owns and operates seven refineries across Europe: the Coryton refinery on the Thames Estuary in the United Kingdom, the Ingolstadt refinery in Ingolstadt, Germany, the Belgium Refining Company refinery in Antwerp, Belgium, the Petit Couronne refinery in Petit Couronne, France, the Cressier refinery in the canton of Neuchatel, Switzerland, the Reichstett refinery in Alsace, France and the Teesside refinery in Teesside, United Kingdom.

As a leading refiner, Petroplus plays a pivotal role in the availability of marine fuels in a number of key bunker ports across northern Europe.

The refineries have a combined throughput capacity of approximately 864,000 bpd.

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