Trafigura to Grow Biodiesel, Fuel Retail With Greenergy Deal (1)

Commodity trading house Trafigura Group agreed to buy the European business of biodiesel producer and fuel supplier Greenergy from Brookfield Asset Management.

The world’s biggest commodity traders are funneling bumper profits from recent volatility in energy markets into assets that may benefit from a Western transition away from fossil fuels. They are also expanding their conventional energy distribution assets such as storage terminals, refineries and fuel stations.

Trafigura didn’t announce terms of the deal in a statement on Monday. Greenergy has biofuel production plants in the UK’s Teesside and Immingham, as well as Amsterdam in The Netherlands. It also runs ...