Dutch commodities trading firm Vitol has agreed to acquire a further 50% of VALT, the bitumen (asphalt) joint-venture it established in 2016 with Sargeant Marine, a Netherlands-based asphalt trading, storage and transportation business.
On completion, VALT will be 100% owned by Vitol and will be integrated into Vitol’s core trading business.
Vitol says the acquisition will make it a leader in the trading, storage and marine transportation of asphalt products around the world, with a dedicated fleet of