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24 September 2020 The on-line newspaper devoted to the world of transports 04:25 GMT+2

November 20, 2018

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The Mercuria Helvetian is preferential purchaser of the Marine Petroleum Network Aegean

Green light to the procedure of previewed business restructure from the American norms

The Greek Marine Petroleum Network Inc Aegean. (AMPNI), society specialized in the fuel supply and lubricants to marine use, will proceed to a business restructure in the within of Capitolo 11 of the American bankrupt law. The society has announced that the bankrupt court of the Southern District of New York has given the go-ahead free preliminary matter to the request of type First Day Motions introduced from the AMPNI in order to approach the procedure of restructure previewed from the American norms.

The company has specified moreover that the approval of the court allows with the society to approach liquidity in the within of the procedure of coming restructure through a financing "debtor-in-possession" of the value of 532 million dollars financed from trading company the Helvetic Mercuria Energy Group, strategic partner of the Aegean, included an injection of initial liquidity of the value of 40 million dollars.

Moreover Aegean has specified that Mercuria acts as preferential purchaser within a procedure of sale of the Aegean, with an offer of the value of 681 million dollars deposited from the Mercuria near the court.

"The society - it has emphasized the president of Aegean, Donald Moore - continues to operate normally and all the payments to the suppliers and distributors are carried out and will continue to being carried out in the course of the previewed relatively short duration from the procedure of Capitolo 11. The approval by the court of our First Day Motions - it has evidenced Moore - constitutes an important step ahead in the process of restructure and allows the access to ulterior liquidity that affords to the society to continue to supply to the customers a service through our total net".

PSA Genova Pra'
Autorità di Sistema Portuale Mar Ligure Orientale

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