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Shipping M&A image Shipping M&A » By The Online Investor Staff, updated Mon., Mar. 18, 11:47 PM Recent mergers and acquisitions in the Shipping M&A category.

Slide #3. Aegean Marine Petroleum Network Inc. Hess Corporation's U.S. East Coast Bunkering Business

Acquirer: Aegean Marine Petroleum Network Inc. (ANW)
Acquiree: Hess Corporation's U.S. East Coast Bunkering Business (HES)
Details: Aegean Marine Petroleum Network Inc. (NYSE: ANW) today announced that it has entered into an agreement to acquire the U.S. East Coast bunkering business of Hess Corporation (NYSE: HES). This transaction, for a purchase price of $30 million, plus an amount to be paid for inventory, is subject to customary closing conditions and is expected to be completed during the fourth quarter of 2013.

Aegean Marine Petroleum Network is a holding company. Through its subsidiaries, Co. markets and physically supplies refined marine fuel and lubricants to vessels. As a physical supplier, Co. procures marine fuel from refineries, major oil producers and other sources and resells and delivers these fuels using Co.'s bunkering vessels to a broad base of end users, including oil tankers, container ships, drybulk carriers, cruise ships, reefers, LNG/LPG carriers, car carriers, ferries, marine fuel traders, brokers and other users. As of Dec. 31, 2016, Co. owns a fleet of 45 bunkering vessels, all of which are double-hulls, and Co. charters in 13 bunkering vessels, all of which are double-hulls.

Open the ANW Page at The Online Investor »

Aegean Marine Petroleum Network is a holding company. Through its subsidiaries, Co. markets and physically supplies refined marine fuel and lubricants to vessels. As a physical supplier, Co. procures marine fuel from refineries, major oil producers and other sources and resells and delivers these fuels using Co.'s bunkering vessels to a broad base of end users, including oil tankers, container ships, drybulk carriers, cruise ships, reefers, LNG/LPG carriers, car carriers, ferries, marine fuel traders, brokers and other users. As of Dec. 31, 2016, Co. owns a fleet of 45 bunkering vessels, all of which are double-hulls, and Co. charters in 13 bunkering vessels, all of which are double-hulls.

Open the HES Page at The Online Investor »

Company Name: 
Aegean Marine Petroleum Network Inc
Stock buyback: 
ANW buyback
Website: 
www.ampni.com
Sector: 
Oil & Gas Equipment & Services
Company Name: 
Hess Corp
Stock buyback: 
HES buyback
Website: 
www.hess.com
Sector: 
Oil & Gas Exploration & Production
Number of ETFs Holding HES: 
94
Total Market Value Held by ETFs: 
$7.39B
Total Market Capitalization: 
$46.28B
% of Market Cap. Held by ETFs: 
15.97%
 

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