Trans-Oil Group, Moldova’s leading sunflower processor and trader, signed a Share Purchase Agreement (SPA) on October 25 for the acquisition of the Frial Terminal in Romania’s Port of Constanța.
The acquisition, facilitated by CEO Vaja Jhashi, aligns with Trans-Oil’s strategy to expand its presence in the Black Sea logistics hub, a critical gateway for the region’s agri-trade.
“The acquisition of Frial Terminal is a significant step in our strategy to strengthen our footprint in the Port of Constanța and enhance our ability to deliver high-quality goods globally,” Jhashi said in a company statement. “We are confident this new addition will help meet the growing demands of our clients and advance our growth objectives in the coming years.”
Trans-Oil has indicated plans to significantly expand Frial Terminal’s storage capacity, funded by a RON 2.1 million (EUR 420,000) grant awarded by the Romanian Ministry of Transportation in 2023.
Frial, previously controlled by Lebanese businessman Fouad Khayat (63.68%) and Allied Invest Group Corporation SAL (32.64%), is a smaller terminal but saw its turnover more than double to RON 10.6 million (EUR 2 million) in 2023.
Frial Terminal can handle up to 1.5 million tonnes of cereals and 500,000 tonnes of vegetable oil, boosting Trans-Oil’s operational capacity and optimising its supply chain.
Subject to approval from the Romanian Competition Council, the transaction is expected to close in Q4 2024.
iulian@romania-insider.com
(Photo source: Transoilcorp.com)