China Aviation Oil acquires Navires Aviation for S$10.9 mil to expand footprint in Europe

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SINGAPORE (July 2): China Aviation Oil (CAO) announced that it has acquired Navires Aviation Limited (NAL) for a consideration of US$8 million (S$10.9 million) from Castleton Commodities Merchant Trading.

NAL is a company registered in the UK with principal activities in jet fuel supply and trading as well as aviation marketing.

Currently, NAL has an interest in Aircraft Fuel Supply BV (AFS), a company incorporated in the Netherlands, and holds a concession from the Schiphol Airport Authority to manage the distribution of jet fuel to airlines at...(click on link for full story on