Private equity company 3i Infrastructure has acquired a 45% interest in Oiltanking Singapore, Oiltanking Amsterdam BV and Oiltanking Malta for 305 million after agreements with Oiltanking and the Malta Freeport.
The three companies provide oil tank storage services in two of the three world oil trading and refining hubs, Singapore and Amsterdam, as well as in Malta, which is situated at the centre of the Mediterranean trade routes.
Equity of 115 million and debt of 190 million will finance the deal, expected for completion by the end of August 2007.
3i Infrastructure has now invested just over half of the money raised in its initial public offering and continues to invest the whole amount within a two-year period.
