Oiltanking has announced the expansion of an existing partnership with 3i Infrastructure by entering into an agreement to sell a minority shareholding of 45% in each of Oiltanking Terneuzen in the Netherlands and Oiltanking Ghent in Belgium. Closing of the transactions is subject to customary regulatory approval.
As the majority shareholder, Oiltanking will continue to be the managing and operating partner. The terminal organisations will remain unchanged and the strategy of an independent liquid storage provider will be continued. This minority participation capitalises part of the value created over the years within these well operated facilities and will fund the worldwide growth of Oiltanking’s independent storage terminal network.
Both terminals are located in the ARA region, one of the world’s major hubs for petroleum products and chemicals. Oiltanking Terneuzen, a state-of-the-art terminal in the Netherlands, offers storage infrastructure for petroleum products and chemicals. The terminal disposes of a total capacity of about 500,000m3, has several jetty positions and provides access to important international road and rail networks. Oiltanking Ghent is one of the largest independent storage terminals for petroleum products, biofuels and chemicals in Belgium with a total capacity of more than 1 million m3. Next to berths for seagoing vessels and barges, road and rail connections, the terminal is also connected to the Central European Pipeline System (CEPS).
The present transaction follows 3i Infrastructure’s acquisition in 2007 of a 45% stake in three Oiltanking terminals – Amsterdam, Malta and Singapore.