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Neste Oyj closes on acquisition of 51% stake in biofuel feedstock trader

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Neste Oyj closes on acquisition of 51% stake in biofuel feedstock trader

Neste Oyj announced Sept. 3 that it closed on its acquisition of a 51% stake in IH Demeter BV for an undisclosed amount.

The company has renamed the animal fats and proteins trader Neste Demeter BV, and the prior owners will retain a minority stake in the company.

Neste announced the deal, which is part of its strategy of securing feedstock supply for its renewable product refineries, in May and the European Commission approved the deal in July.