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MELBOURNE/GENEVA Feb 5 Trafigura unit Puma
Energy has agreed to buy Australian fuel distributor Ausfuel
from private equity firm Archer Capital, ahead of Puma's likely
Trafigura said in a statement on Monday that the deal would
make it Australia's largest independent fuel retailer, following
the purchase of Neumann Petroleum's 120 service stations in
"The change in market dynamics, the closing of refineries
and the growing volume of imports into Australia has opened up a
great deal of opportunity for Puma Energy to invest into the
Australian market," said Puma's Chief Executive Pierre Eladari
in a written statement.
Australian media reported the purchase of Ausfuel could be
worth up to A$650 million ($676 million).
Terms were not disclosed. Morgan Stanley advised Archer, one
of Australia's largest buyout firms.
The Swiss-based commodities trading house with
annual revenues of around $120 billion is making early
preparations to float Puma and has been scouring the global
downstream energy sector for opportunities.
Much of its recent growth has been in Africa - a region that
accounts for around a quarter of Trafigura's revenues.
Puma has recently shown strong interest in buying assets in
Africa and started talks to acquire a majority stake in Kenyan
fuel marketer KenolKobil in May.
It was not clear if the talks were ongoing and Trafigura
declined to comment, adding that Puma "continues to be
interested in developing scale in Africa and globally".
Singapore-based Puma has 5,000 employees and is also present
in Asia, South America and the Middle East.
(Reporting by Victoria Thieberger and Emma Farge; Editing by