Hestya Energy to Acquire Wilhelmshaven Refinery, Tank Farm and Marine Terminal - ConocoPhillips Sells to Rationalize Downstream Operations - Deal Analysis From GlobalData by GlobalData

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									               Hestya Energy to Acquire Wilhelmshaven Refinery, Tank
                 Farm and Marine Terminal - ConocoPhillips Sells to
               Rationalize Downstream Operations - Deal Analysis From
                                    GlobalData
        Reference Code: GDGE0323M&A                                                                                                         Publication Date: August 2011


        1          Table of Contents
        1 Table of Contents.................................................................1
         1.1 List of Tables .................................................................1
         1.2 List of Figures ................................................................1
        2 Hestya Energy to Acquire Wilhelmshaven Refinery, Tank
          Farm and Marine Terminal ...................................................2
         2.1 Deal Overview ...............................................................2
         2.2 Deal in Brief ...................................................................2
         2.3 In Addition to Refining Capacity, Hestya Energy will
              Gain Access to Storage Facilities Through the Current
              Deal 2
         2.4 Hestya Reportedly Plans to Utilize the Refinery as
              Storage Terminal ...........................................................3
         2.5 Sell-Off is a Part of ConocoPhillips’ ‘Shrink-to-Grow’
              Strategy .........................................................................3
         2.6 Deal Financials and Valuations .....................................5
        3 Appendix ..............................................................................5
         3.1 Methodology ..................................................................5
         3.2 Contact Us.....................................................................6
         3.3 Disclaimer......................................................................6

        1.1       List of Tables
        Table 1: Wilhelmshaven Refinery, Asset Details, August 2011
                    .................................................................................2
        Table 2: ConocoPhillips, Divestment Details, 2010–2011
                   (August) ....................................................................4
        Table 3: Companies Involved ....................................................5
        Table 4: Target Information .......................................................5
        Table 5: Acquirer Information ....................................................5
        Table 6: Vendor Information ......................................................5


        1.2       List of Figures
        Figure 1:       Wilhelmshaven Refinery, Germany, Location Map ..2




Hestya Energy to Acquire Wilhelmshaven Refinery, Tank Farm and                                                                                GDGE0323M&A /Published AUG 2011
Marine Terminal - ConocoPhillips Sells to Rationalize Downstream                                                                                                       Page 1
Operations                                                                                               © GlobalData. This report is a licensed product and is not to be photocopied
                                                                           The Wilhelmshaven refinery is located on the German North
                                                                           Sea coast, and has a crude oil processing capacity of 260,000
                                                                           barrels per day (bbl/d). It also has a deep water port. The
        2       Hestya Energy to Acquire                                   refinery, which is currently not–operational, primarily processed
                                                                           light, sweet crude oil, mostly from the North Sea. It mainly
                Wilhelmshaven Refinery, Tank Farm
                                                                           produced transportation fuels, fuel oil and intermediate
                and Marine Terminal                                        feedstocks, which were exported to Europe and the US. The
                                                                           remaining products were distributed to the inland market
        2.1    Deal Overview
                                                                           through road and rail modes.
        Deal Type:                 Asset Transactions
                                                                           Mobil Oil AG Deutschland built the refinery during 1973–1976.
        Deal Status:               Announced                               After being closed for five years in the late 1980s, the refinery
        Announced Date:            August 10, 2011                         was modernized and became operational again in 1991. In
                                                                           2004, a vacuum distillation plant was commissioned. In the first
                                                                           quarter of 2006, ConocoPhillips completed the purchase of the
        2.2    Deal in Brief
                                                                           Wilhelmshaven refinery from Louis Dreyfus Energy Holdings
        Hestya Energy B.V. (Hestya Energy), a company focused on           Limited, a company engaged in processing, trading and
        the European midstream oil sector, signed an agreement to          merchandising of various agricultural and energy commodities.
        acquire the German oil refinery – Wilhelmshaven, tank farm and     The purchase included the refinery, a marine terminal, rail and
        marine terminal, from an affiliate of ConocoPhillips.              truck loading facilities and 
								
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