US EditionVARO Energy to acquire Preem from Ethiopian billionaire Mohammed Al-Amoudi
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VARO Energy to acquire Preem from Ethiopian billionaire Mohammed Al-Amoudi
Key PointsVARO Energy has agreed to acquire Corral Petroleum Holdings AB, marking Ethiopian billionaire Mohammed Al-Amoudi’s exit from Sweden’s energy sector.The acquisition, which includes Preem’s refineries and infrastructure, awaits approval from Swedish and EU regulators and is expected to close in late 2025.VARO’s acquisition strengthens its European footprint, while Preem struggles with financial declines, including a 5.04% drop in 2024 re…
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