Friday, July 22, 2011

Swiss Oil Trader Addax & Oryx Put Up for Sale, Oil Daily Reports

Swiss oil trading company Addax & Oryx Group has been put up for sale by owner Jean-Claude Gandur, the International Oil Daily reported, citing unidentified people close to the company.
BNP Paribas SA is advising on the sale and an unspecified number of offers have been received, the industry newsletter said. Mercuria Energy Trading SA, Gunvor International BV and Geneva, Switzerland-based Socar Trading are among the potential buyers, Oil Daily reported.

Addax is expecting to receive about $400 million from the sale, which may conclude by the end of the summer, the newsletter said.

Addax owns seven oil-product storage and distribution terminals in Africa, including one in the Tanzania’s Dar es Salaam, Oil Daily reported.

To contact the reporter on this story: Christian Schmollinger in Singapore at

To contact the editor responsible for this story: Alexander Kwiatkowski at

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