Russian industrial giant takes over Argos Oil

Rotterdam-based oil trading group Argos Oil is being taken over by Russian industrial group Sistema, the company said in a website statement.

Argos is one of the biggest western European oil and oil product traders with a workforce of 800 in 20 countries. Financial details were not disclosed.
Argos, founded in 1984, is one of the last independent companies based in Rotterdam port, the NRC reports. In August, directory Peter Goedvolk told the paper the group will turn over some €13bn this year.