KuwaitPetroleum International (KPI) has completed the acquisition of a 50% stake in Italian biofuels firm Eco Fox, CNBC Arabia reported last week. No financial details were disclosed for the acquisition which was approved by the European Commission for Competition and the Italian Competition Authority.

Background: The acquisition will support KPI’s goals of developing, producing and distributing alternative fuels, KPI’s CEO Shafi Taleb Al-Ajmi told Kuwait News Agency in March. KPI supplies fuel to 70 international airports and manages 2.8k gas stations in Italy.

About Eco Fox: Eco Fox is an Italian renewable fuel producer and distributor which produces biodiesel made from vegetable oil, animal fat, and recovered used cooking oil. The company’s plant has a production capacity of 200k tons per year. Eco Fox also produces byproducts including glycerine, acid oils and potassium salts which can be used in agriculture.

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