Global law firm White & Case LLP has advised the Prax Group, an independent global energy conglomerate, on its acquisition of OIL! Tankstellen GmbH, a petrol retailer with subsidiaries and operations in Germany, Switzerland, Austria and Denmark, from Mabanaft GmbH & Co. KG, an energy company which is part of Marquard & Bahls group, a Germany based international energy and chemicals group.
"This strategic acquisition marks the Prax Group's latest expansion within Europe, boosting its petrol retail portfolio to around 540 sites across the continent," said White & Case partner Richard Jones, who led the Firm’s deal team. "Our role advising on the acquisition demonstrates White & Case's experience and capabilities acting on cross-border M&A transactions in the energy and infrastructure sectors."
The deal, which is subject to customary regulatory approvals, is expected to close in the fourth quarter of 2023.
Headquartered in London, the Prax Group is an independent global energy conglomerate dealing in crude oil, petroleum products and bio-fuels, with a complete integration across the oil value chain, from upstream to downstream. The Prax Group is currently the fifth largest independent forecourt retailer in the United Kingdom selling fuel and non-fuel convenience products and services.
OIL! Tankstellen GmbH is a Hamburg-based petrol retail business, with more than 340 petrol service stations across Germany, Switzerland, Austria and Denmark.
The White & Case team which advised on the transaction was led by partner Richard Jones (London) and included partners Thomas Burmeister, Tilman Kuhn (both Düsseldorf), Bodo Bender, Sebastian Stüetze (both Frankfurt), local partners Thyl Haßler, Thilo Wienke (both Düsseldorf), Mathias Bogusch (Frankfurt), counsels Sascha Schmidt (Frankfurt) and Andreas van den Eikel (Berlin), and associates Paul Kohlhaas, Yannick Couturier, Miriam Staatz, Alexander Bijok, Justus Redeker (all Frankfurt), Selma Kalkutschke (Düsseldorf), Nico Frehse and Thorsten Eggert (both Hamburg).
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