Singapore, September 16, 2019
AFCO Holding under full control by Coloured Finches
After a successful partnership of nearly five years Onix Energy Limited, owned by former AFCO Managing Director Mr. Ali Nael, sold its minority share to Coloured Finches, by which the latter now owns 100% of the shares in AFCO Holding Pte Ltd.
Jan-Willem van der Velden and Peter Nohlmans, founding partners of Coloured Finches and members of the board of AFCO, will continue the strategy of AFCO with strong focus on fuel products and crude across Asian and European markets as well as developing increased presence in the market for renewable fuels.
Coloured Finches is an energy investment company investing in businesses in the downstream hydrocarbon markets including biofuels. Currently, the activities are concentrated in Europe and Asia. Coloured Finches was established in 2012 by former chief executives and entrepreneurs from the downstream European oil industry. For more information www.colouredfinches.com