Oiltanking announces sale of four European terminals to Evos

Oiltanking has entered into an agreement to sell its 55% stake in four European liquid storage terminals to Evos through its entity Evos Finance. Evos will also acquire the 45% stake in the terminals held by co-shareholder 3i Infrastructure. 

The four terminals are Oiltanking Amsterdam, Oiltanking Ghent, Oiltanking Malta and Oiltanking Terneuzen, which collectively provide 3.8m3 million of liquid storage capacity and associated services to a diverse range of customers. The divestment of the four terminals is a result of Oiltanking’s strategic review to continuously optimise its asset portfolio. Oiltanking and 3i Infrastructure will continue as co-shareholders of Oiltanking Singapore.

Matti Lievonen, CEO of Oiltanking, says, “The divestment of our four European terminals is in line with Oiltanking’s Strategy 2025 as we shift our portfolio and focus on gas, chemicals and new energy. Together with our partner 3i Infrastructure we have invested into the expansion and upgrading of our terminals and improved their environmental and safety performance. Driven by our commitment to apply a best-owner mindset we are confident the terminals are well placed to provide a perfect match with Evos’ asset portfolio.” Douglas van der Wiel, Senior Vice President EMEA at Oiltanking, adds, “We are proud of the skilled and committed teams at the terminals and the achievements we have made together with our partner 3i Infrastructure over the years. We are confident that Evos will continue to advance the terminals and we wish them every success in the future. We would like to thank our customers for their trust over the past years as well as thank our teams for their excellent performance in delivering safe and reliable services.”

Evos is an independent liquid bulk storage company, which operates a network of state-of-the-art tank terminals in Europe with a combined storage capacity of 2.5m3 million. The terminals are located in the Netherlands (Amsterdam, Rotterdam), Germany (Hamburg) and Spain (Algeciras). Evos was founded in 2019 and is owned by investment funds managed by First Sentier Investors, a long-term oriented infrastructure asset manager. Evos has a total headcount of 350 employees.

The sale is subject to customary approvals by third parties. Completion of the transaction is expected to occur in Q4 2021. Financial details of the transaction will not be disclosed.

 

Oiltanking Terneuzen

image ot netherlands terneuzen tanks2 1920px

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