WILHELMSHAVEN, Germany, Aug. 10, 2011 /PRNewswire/ — Hestya Energy B.V. today announced it has signed an agreement to purchase the Wilhelmshaven oil refinery, tank farm and marine terminal from an affiliate of ConocoPhillips. Hestya Energy B.V. is a private Amsterdam-based company established to acquire and operate businesses within the European midstream energy sector, including the oil refining and storage sectors.

The Wilhelmshaven refinery is located on the German North Sea coast. It has a deep water port and crude oil processing capacity of 260,000 barrels per day, making it one of Europe‘s leading refineries in terms of scale.

“The Wilhelmshaven refinery and terminal complex offer numerous geographical and logistical advantages, including a deepwater port, and are strategically positioned to capture increasing regional demand for terminal capacity and other downstream opportunities,” said Christian B. Cleret, CEO of Hestya Energy B.V.

The transaction is expected to close later this year. Equity for the acquisition is being provided by the Riverstone/Carlyle Global Energy and Power Funds, a group of energy-focused private equity funds managed by Riverstone Holdings LLC, and AtlasInvest, a private investment company with investments spanning oil exploration and production and the midstream and downstream sectors.

About Hestya Energy B.V.

Hestya Energy, headquartered in Amsterdam, The Netherlands, is a private company focused on the European midstream oil sector. The company is building a portfolio of high quality, strategic assets through the acquisition of existing facilities and investment in green-field developments. Hestya Energy will operate at the highest level of industry standards in a safe and environmentally responsible manner, by leveraging the experience and ability of its management team and employees. The company will aim to meet and exceed customer expectations by providing customers with flexible, cost effective midstream solutions for their existing operations and future business opportunities. The management team consists of seasoned industry professionals with expertise in a wide range of midstream operations, led by Christian B. Cleret, a 30 year veteran in the sector. For more information, visit www.hestya-energy.com.

About Riverstone Holdings LLC

Riverstone Holdings LLC, an energy and power-focused private equity firm founded in 2000, has approximately $17 billion under management across six investment funds, including the world’s largest renewable energy fund. Riverstone conducts buyout and growth capital investments in the midstream, exploration & production, oilfield services, power and renewable sectors of the energy industry. With offices in New York, London and Houston, the firm has committed approximately $16.0 billion to 79 investments in North America, Latin America, Europe and Asia. For more information, visit www.riverstonellc.com.

About AtlasInvest

AtlasInvest is a private investment company with over $600 million of capital invested across the energy sector. The investment portfolio is diverse in both scope and geography, encompassing all parts of the energy chain including E&P, midstream and downstream. In addition, complementary investments exist in a range of alternative energy companies as well as a 50% interest in the Energy Intelligence Group based out of New York. The AtlasInvest group of companies is owned and controlled by Marcel van Poecke, former CEO of Petroplus International B.V., who, from a management buyout in 1993, grew Petroplus to the largest independent oil refiner in Europe. The addition of Hestya Energy B.V. complements and helps to consolidate AtlasInvest’s downstream energy position.

Contact:

For Hestya Energy B.V.:
Jan Hendrik Wiggers
Van Luyken Communicatie Adviseurs
+31 235 400 424

For Riverstone Holdings LLC:
Jeffrey Taufield or James David
Kekst and Company
+1 212 521 4800

For AtlasInvest:
Joost Droge
AtlasInvest
+32 266 317 50

SOURCE Hestya Energy B.V.