Air BP has reached agreement to acquire St1’s 49 percent share of Finnish aviation fuels company Avifuels Oy.
On completion of the deal Air BP, which acquired 51% of Avifuels earlier this year, through its purchase of the Scandinavian aviation fuels business Statoil Aviation, will wholly own the company. The purchase is expected to be completed by the end of the year.
“We are committed to a strategy of growth and I am delighted that Avifuels Oy will become part of Air BP in Northern Europe.”
David Gilmour, chief executive of Air BP said: “We are committed to a strategy of growth and I am delighted that Avifuels Oy will become part of Air BP in Northern Europe. The acquisition will strengthen the Air BP offering and with a strong base in Helsinki, we will be able to look for ways to efficiently grow the business in Finland.”
On completion of the purchase a new Air BP office will be opened at Helsinki Vantaa airport. The existing Avifuels team will continue to manage airport operations, ensure customer service continuity and maintain the existing high service levels for customers.