MonteAlegre a 40% equity stake was sold to Gunvor Group

Gunvor acquired 40% of the shares of Grupo MonteAlegre (Paraguay), from the Hoeckle family. Grupo MonteAlegre is engaged in the import, river transportation, storage and distribution of petrol products Grupo MonteAlegre includes the following three companies:- MonteAlegre S.A.- Navegación del Sur S.A.- Imperial S.A. ("Petromax" brand) Headquartered in Switzerland, Gunvor is one of the largest commodity traders in the world, with a particular focus on metals and petrol products (trading 2.5 millions barrels per day on average). Alpax acted as exclusive financial advisor to the MonteAlegre Group