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British Petroleum (BP), one of the largest energy companies in the world, announced on Wednesday to purchase jet fuel business Statoil Fuel & Retail (SFR), in a bid to expand in Scandinavia.
The deal will add around 73 new airports in the Nordic countries and Northern Europe to Air BP's 600-strong global fuels network, the company said.
Air BP, the aviation division of BP, is one of the world's largest suppliers of aviation fuel products and services, which fuels more than 6,400 flights every day.
SFR, owned by Canadian company Alimentation Couche-Tard Inc, operates mostly in northern Europe.
"Bringing SFR Aviation's business into our own strengthens our position in Scandinavia which is an attractive region for the aviation industry," said David Gilmour, chief executive of Air BP.
The value of the acquisition, expected to close by the end of 2014, was not disclosed.
