Global commodities trader and miner Glencore (LON: GLEN) has agreed to acquire a majority stake in Dutch fuel supplier FincoEnergies for an undisclosed sum, the Dutch company said on Monday.
Glencore will use the deal to expand its footprint in Northwest European fuel markets, industry sources said. Finco is a major player in the Dutch wholesale fuel market and in the region’s biofuels and low-carbon fuel sectors.
Global trading houses such as Glencore seek to add strategic assets across the oil supply chain to create trading opportunities. Rival trader Trafigura acquired UK-based road fuel and biofuel supplier Greenergy last year in a similar move.
Glencore will become the majority shareholder in Finco alongside Dutch investment firm Coloured Finches, which will shift from majority to minority shareholder after the deal closes. Current minority shareholder Pontex, also a Dutch investment company, will sell its shareholding in the deal, Finco said.
Coloured Finches will continue to oversee day-to-day operations and management of Finco after the transaction, according to an industry source.
Glencore’s investment will enable Finco to grow its presence in Northwest Europe and expand in renewable fuel markets, the Dutch firm said. Finco also supplies marine fuels and marine biodiesel.
The deal is subject to EU antitrust approval and could close in the second quarter of 2026, Finco said.
(Reporting by Robert Harvey and Enes Tunagur in London. Editing by Alex Lawler and Mark Potter)
