Mayer Brown advises the Prax Group on financing for acquisition of OIL! Tankstellen

London — Mayer Brown has advised the Prax Group on the financing for the acquisition of OIL! Tankstellen Gmbh from Mabanaft Gmbh & Co KG, marking the energy conglomerate’s latest expansion into the European market and entry into four new retail markets including Germany, Austria, Denmark and Switzerland.

Mayer Brown advised the Prax Group on a $300 million private credit facility in September, used to refinance a maturing five-year term loan tranche from 2018 as well as for the strategic acquisition.

Headquartered in London, the Prax Group is an independent global energy conglomerate dealing in crude oil, petroleum products and bio-fuels, with complete integration across the oil value chain from upstream to downstream. It is the fifth largest independent forecourt retailer in the UK selling fuel and non-fuel convenience products and services.

OIL! Tankstellen is a Hamburg-based petrol retail business with a network of more than 340 gas stations located across Germany, Austria, Denmark and Switzerland.

The Mayer Brown team was led by Banking & Finance partners Ash McDermott and Trevor Borthwick and included senior associate Clare Betteridge, associate Tony Cunningham and trainees Shelby Buchanan and George Walker in London and a team in Frankfurt led by partner Dr. Martin Heuber including associates Max Birk and Merve Schmitte.