Clifford Chance advised Gunvor Petroleum Rotterdam B.V. on the financing of a comprehensive upgrade of its Gunvor Petroleum Rotterdam refinery.

Gunvor Group, one of the leading global commodity trading houses, acquired the former Kuwait Petroleum Europoort refinery in early 2016. Gunvor is now aiming to develop and upgrade the refinery to be of more added value to Gunvor’s existing European refinery network, which includes refineries in Antwerp, Belgium and Ingolstadt, Germany, both wholly owned by the Group since 2012. Gunvor has successfully secured a USD 200 million project financing facility, led by its Dutch banking partners, to support the proposed development and infrastructure upgrade.

The Clifford Chance team was led by partner Dr. Florian Mahler and consisted of senior associate Bahar Rahimyar and transaction lawyer Salome Jibuti (all Banking & Capital Markets, Düsseldorf).

The Clifford Chance office Amsterdam advised with partners Angela McEwan, Titus de Vries and associate Amin Tamaddoni (all Finance) as well as partner Floris van de Bult and counsel Sara Schermerhorn (both Employment Law).