Evos to buy four European liquid storage terminals from Oiltanking and 3i
Evos, a Dutch liquid bulk storage company, has agreed to acquire four European liquid storage terminals from Oiltanking and Jersey-based investment company 3i Infrastructure for an undisclosed price.
The acquisition will be carried out by Evos via its entity Evos Finance.
The sale involves four liquid storage terminals in Amsterdam and Terneuzen in the Netherlands, Ghent in Belgium, and Malta.
The terminals dubbed as Oiltanking Amsterdam, Oiltanking Terneuzen, Oiltanking Ghent, and Oiltanking Malta, collectively offer a liquid storage capacity of 3.8 million cubic meters along with associated services to a diverse variety of customers.
While Oiltanking, which is a German tank terminal operator, has a 55% stake in the terminals, 3i Infrastructure has a stake of 45%.
Oiltanking said that the sale of the four liquid storage terminals has been taken up following its strategic review to continuously streamline its asset portfolio.
After the closing of the deal, 3i Infrastructure will retain its stake of 45% in Oiltanking Singapore Limited, alongside Oiltanking’s stake of 55%.
Matti Lievonen — CEO of Oiltanking said: “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.”
Evos said that the acquisition of the liquid storage terminals aligns with its vision and the long-term infrastructure investment philosophy of its owner — First Sentier Investors to create a major tank storage platform with footprint in the key European liquid bulk hubs.
Koert Schouten — CFO of Evos said: “Evos will now have a total capacity of 6.2 million cbm across its 8 terminals for the storage of oil products, chemicals, and renewable fuels. We will continue our drive for safety and service excellence.
“Our increased scale will enable us to provide an even better service offering to our customers and will facilitate the pursuit of energy transition opportunities, together with our customers, in line with our ambition to be a frontrunner in new sustainable energy products.”
The deal, which is subject to customary approvals by third parties, is expected to close in the fourth quarter of this year.