Mercuria offers $1 bln boost to Aegean Marine

Energy trader Mercuria Group has agreed to provide a $1 billion trade finance facility to Greece's Aegean Marine Petroleum Network, the marine fuel logistics and supplies company said on Thursday, sending Aegean's stock up more than 150 percent.

New York-listed Aegean Marine underwent a major leadership change this year after losses prompted an activist investor revolt to sever ties with the company founder, shipping and oil tycoon Dimitris Melissanidis.

Aegean announced a $200 million write-off in early June after a new chairman, Donald Moore, was appointed in May to lead a strategic review.

Swiss-based Mercuria will initially inject at least $30 million in cash, Aegean Marine said.

Aegean Marine added that the two companies would explore "a potential broader strategic partnership between the company and Mercuria, including operational services,...