The administrator of the German subsidiaries of Petroplus Holdings AG (PPHN.EB) said Friday that retail operations have been stabilized, and said that the company is supplying around 40,000 customers in the state of Bavaria.
The administrator of the German subsidiaries of Petroplus Holdings AG
(PPHN.EB) said Friday that retail operations have been stabilized, and said
that the company is supplying around 40,000 customers in the state of
Bavaria
.
Petroplus' German refinery in
Ingolstadt
remains in stand-by mode, Michael Jaffe said in a written statement.
"We now have the funds again that are required to secure supplies via
business partners and independent of the refinery's stand-by operation,"
Jaffe said.
"We are actively participating on the market and have secured our
capability to supply our customers," said Martin Schreiner, managing
director of Petroplus Bayern, the retail subsidiary in
Bavaria
.
Insolvency administrator Jaffe also said that the search for investors in
Petroplus' German business is progressing, although the process is still at an
early stage.
"Fortunately, the number of interested parties has further
increased," said Jaffe, without further elaborating.
He had previously said that numerous strategic and financial investors have
expressed interest in the German Petroplus business
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