SKion GmbH becomes second biggest shareholder of AVISTA OIL AG

SKion GmbH, Bad Homburg v. d. Höhe, a strategic investment company owned by the German entrepreneur Susanne Klatten, has increased its share of AVISTA OIL AG to 30% through a capital increase and the acquisition of shares from the original shareholders, making it AVISTA’s second biggest shareholder. AVISTA OIL AG is the leading pioneer in the industry of used oil upcycling.
The transaction is still waiting for the approval of the cartel authority; once approved, the new funds will be used for future strategic acquisitions, and for the construction and expansion of additional re-refining capacities in Europe and the U.S.
“The capital increase will enable us to drive forward our global expansion dynamically. SKion’s shareholding is a milestone for our enterprise: we gain a strong and industry experienced partner on our way towards a globally leading position in the production and sale of eco base oils, eco lubricants and by-products as well as recycled fuels,” said Bernd Merle, CEO of AVISTA OIL. (October 10, 2012)