Odfell Terminals has been converted to a 100% Odfjell SE controlled holding company as part of a company restructure that strengthens the company’s role in its terminal division.
This follows Lindsay Goldberg’s departure as a joint venture partner for Odfjell Terminals. The restructure strengthens the company’s foothold in tank storage with this holding company and by increasing its ownership in Antwerp’s Noord Natie Odfjell Terminals.
As part of Lindsay Goldberg’s announced exit plans, it has converted its shares in Odfjell Terminals into 49% direct ownership in two separate joint ventures owning the terminals in the US and Asia.
With Antwerp being an important port for chemicals in the EU, Odfjell takes another strategic step.
The ownership share increases from 12.75% to 25% in Noord Natie, and this stake is wholly owned by the holding company. It will be the management company of Odfjell’s global terminal assets and will be the operating partner of the joint ventures in the US and Asia.
Frank Erkelens, CEO of Odfjell Terminals, says: ‘After our recent divestments we can now fully focus o growing our footprint of terminals as well as on the synergies with Odfjell Tankers. We see great potential for the terminals in our portfolio.’