d894283_6-k.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE
13A-16 OR 15D-16 UNDER THE SECURITIES
EXCHANGE
ACT OF 1934
For the
month of June 2008
Commission
File Number: 001-33179
AEGEAN
MARINE PETROLEUM NETWORK INC.
(Translation
of registrant's name into English)
42
Hatzikyriakou Avenue
Piraeus,
Athens 185 38
Greece
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.
Form 20-F
[ X ] Form 40-F [
]
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ________.
Note: Regulation S-T Rule
101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely
to provide an attached annual report to security holders.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): ________.
Note: Regulation S-T Rule
101(b)(7) only permits the submission in paper of a Form 6-K if submitted to
furnish a report or other document that the registrant foreign private issuer
must furnish and make public under the laws of the jurisdiction in which the
registrant is incorporated, domiciled or legally organized (the registrant's
“home country”), or under the rules of the home country exchange on which the
registrant's securities are traded, as long as the report or other document is
not a press release, is not required to be and has not been distributed to the
registrant's security holders, and, if discussing a material event, has already
been the subject of a Form 6-K submission or other Commission filing on
EDGAR.
Indicate
by check mark whether by furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes
[ ] No
[ X ]
If “Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-_____.
INFORMATION
CONTAINED IN THIS FORM 6-K REPORT
Attached as Exhibit 1 is a copy of the
press release of Aegean Marine Petroleum Network Inc., dated June 17, 2008,
announcing its entry into an agreement to acquire ICS Petroleum, a
Vancouver-based marketer and physical supplier of marine fuel in Canada and
Mexico.
Exhibit
1
CONTACTS:
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Aegean
Marine Petroleum Network Inc.
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Investor
Relations:
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(212)
763-5665
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Leon
Berman, Principal
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investor@ampni.com
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The
IGB Group
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(212)
477-8438
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Aegean
Marine Petroleum Reaches Agreement to Acquire ICS Petroleum;
Expands
Presence into North America
Company
Acquires Two Barges
PIRAEUS,
Greece, June 17, 2008 – Aegean Marine Petroleum Network Inc. (NYSE: ANW), an
international marine fuel logistics company that markets and physically supplies
refined marine fuel and lubricants to ships in port and at sea, announced today
that it has entered into an agreement to acquire Vancouver-based ICS Petroleum,
a leading marketer and physical supplier of marine fuel in Canada and
Mexico. The acquisition, which is subject to normal closing
conditions, is scheduled to close in July 2008.
In
connection with this acquisition, Aegean has agreed to purchase two
single-hull barges, used in the delivery of marine fuel, from ICS; these
barges are eligible for employment until 2015.
Formed in
1984, ICS markets marine fuel to the Western and Eastern Canadian markets from
its offices in Vancouver and Montreal. In addition, the Company acts
as a physical supplier in Vancouver. ICS also markets marine fuel in
Mexico. In 2007, the company sold over 560,000 metric tons of marine
fuel across all its regions.
E.
Nikolas Tavlarios, President, commented, “With the acquisition of ICS, Aegean is
positioned to once again capitalize on an attractive market opportunity that
further expands its global network for the physical supply of marine fuel. ICS
has a well-established business with a strong reputation that will provide a
critical bunkering presence for Aegean in North America. Vancouver serves as the
largest port in Canada due to its considerable ship traffic and is one of the
largest ports in North America based on total cargo volume. Montreal also
boasts significant ship traffic as it serves as an important gateway to the
Saint Lawrence Seaway and Great Lakes region. We intend to finance this
acquisition, which meets our strict return criteria, through borrowings under
our $300 million senior secured revolving credit facility.”
Mr.
Tavlarios added, “Consistent with our past success in consolidating the industry
through accretive acquisitions in Northern Europe and the U.K., we plan to
leverage our extensive customer base to drive future sales volume growth in
North America. As we continue to expand our global reach during a time when we
expect to further grow our logistics infrastructure, Aegean has significantly
enhanced its long-term earnings potential for the benefit of the Company and its
shareholders.”
ICS
Petroleum will function as a wholly owned subsidiary of Aegean and will continue
to operate business out of its Vancouver and Montreal offices. “We
are thrilled to join Aegean,” said Justin Noice of ICS. “Aegean is
the premier independent physical supplier of marine fuel globally and through
our business combination, ICS will be able to leverage off of the Company’s vast
global platform and access to capital allowing for continued growth and success
for our business.”
AMA
Capital Partners advised Aegean on this transaction.
About
Aegean Marine Petroleum Network Inc.
Aegean
Marine Petroleum Network Inc. is an international marine fuel logistics company
that markets and physically supplies refined marine fuel and lubricants to ships
in port and at sea. As a physical supplier, the Company purchases
marine fuel from refineries, major oil producers and other
sources. The Company sells and delivers these fuels to a diverse
group of ocean-going and coastal ship operators and marine fuel traders, brokers
and other users through its service centers in Greece, Gibraltar, Singapore,
Jamaica, the United Arab Emirates, Northern Europe, West Africa and the United
Kingdom.
Cautionary
Statement Regarding Forward-Looking Statements
Matters
discussed in this press release may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995
provides safe harbor protections for forward-looking statements in order to
encourage companies to provide prospective information about their
business. Forward-looking statements include statements concerning
plans, objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than statements of
historical facts.
The
Company desires to take advantage of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The words “believe,”
“intend,” “anticipate,” “estimate,” “project,” “forecast,” “plan,” “potential,”
“may,” “should,” “expect” and similar expressions identify forward-looking
statements. The forward-looking statements in this press release are based upon
various assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, our management's examination of historical
operating trends, data contained in our records and other data available from
third parties. Although we believe that these assumptions were reasonable when
made, because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to predict and
are beyond our control, we cannot assure you that we will achieve or accomplish
these expectations, beliefs or projections.
In
addition to these important factors, other important factors that, in our view,
could cause actual results to differ materially from those discussed in the
forward-looking statements include our ability to manage growth, our ability to
maintain our business in light of our proposed business and location expansion,
our ability to obtain double hull secondhand bunkering tankers, the outcome of
legal, tax or regulatory proceedings to which we may become a party, adverse
conditions in the shipping or the marine fuel supply industries, our ability to
retain our key suppliers and key customers, material disruptions in the
availability or supply of crude oil or refined petroleum products, changes in
the market price of petroleum, including the volatility of spot pricing,
increased levels of competition, compliance or lack of compliance with various
environmental and other applicable laws and regulations, our ability to collect
accounts receivable, changes in the political, economic or regulatory conditions
in the markets in which we operate, and the world in general, our failure to
hedge certain financial risks associated with our business, our ability to
maintain our current tax treatments and our failure to comply with restrictions
in our credit agreements and other factors. Please see our filings with the
Securities and Exchange Commission for a more complete discussion of these and
other risks and uncertainties.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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AEGEAN MARINE PETROLEUM NETWORK
INC. |
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(registrant) |
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Dated: June
20, 2008
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By: /s/ E. Nikolas Tavlarios
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Name:
E. Nikolas Tavlarios
Title: President
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