A new shareholder structure for AVISTA OIL AG
Uetze / Bad Homburg / Bitburg, April 24th, 2019. - AVISTA OIL AG, the leading industrial pioneer in the sustainable upcycling of used oils, gets a new shareholder structure: Bitburger Holding GmbH will become the company's new anchor shareholder. The indirect stake of about 45 percent will be realized among other things through the acquisition of shares from the existing shareholders Core Link GmbH & Co. KG- and Avista Beteiligungsgesellschaft mbH & Co. KG. The two existing shareholders will leave the company as part of the transaction.
The holding company, SKion GmbH, increased its stake in AVISTA OIL AG from 35 percent to about 45 percent as well. SKion, which has been invested in AVISTA OIL for more than six years, will continue to be an anchor shareholder of AVISTA OIL, together now with Bitburger Holding. In addition, Dr. Weinberger Management & Consult GmbH remains a shareholder with about 10 percent. The intended transaction is still subject to the approval of the antitrust authority.
Marc Verfürth, Chief Executive Officer of AVISTA OIL AG, explains: "With the new shareholder structure, AVISTA OIL will continue to be accompanied by industrially-experienced and family-oriented shareholders. Together with these strong and long-term oriented shareholders at our side, we look forward to further develop AVISTA OIL technologically and expand into new markets. I thank our original shareholders for the many years of constructive support to our company."
About AVISTA OIL AG:
AVISTA OIL is one of the leading companies in the upcycling of used lubricants. The industry pioneer, founded in 1951, has grown profitably over the past few years, and serves its customers along the entire value chain: from collecting and servicing of used oils to processing, marketing, and distributing of high quality finished lubricants worldwide. AVISTA OIL offers complete solutions for the resource-saving disposal and supply of lubricants via its environmentally friendly closed loop concept: AVISTA eCO2. AVISTA OIL's finished lubricants are of a high-quality, cost-effective, and own a certificate for the reduction of their CO2 footprint. The AVISTA OIL group consists of several subsidiaries and associated companies which are responsible for the collection of used oil and the international distribution of the products. AVISTA OIL employs 700 people worldwide and has seven collection and refinery locations spread across Europe and the USA.
About Bitburger Holding GmbH:
Bitburger Group is comprised of the entrepreneurial activities of the owning family from the Eifel region of Germany. In addition to the main business area, which is the production and marketing of beer and specialty beers run by the Bitburger Brewery Group, Bitburger Holding also has long-term investments in various successful German family-run businesses. Next to its majority holdings in Gerolsteiner Brunnen and Wuppertaler Werkzeugspezialisten Wera, Bitburger Holding also holds minority interests in successful companies in various industries, and is further responsible for the asset management of the group. Moreover, Bitburger Holding is currently expanding its corporate venturing activities.
About SKion GmbH:
SKion is the investment company of the entrepreneur Susanne Klatten and develops industrial assets across economic, industrial, and technological cycles. The portfolio of SKion includes ALTANA AG (specialty chemicals), SGL Carbon SE (carbon products), Nordex SE (wind turbines), and also various companies in the field of water technology. As a fourth-generation entrepreneur, Susanne Klatten pursues a long-term investment approach with SKion.