Dutch independent bulk liquid storage company Evos is planning to buy four European terminals from current owners Oiltanking and 3i Infrastructure.
The four Oystercatcher terminals are in Amsterdam and Terneuzen in the Netherlands, Ghent in Belgium, and Malta. Oiltanking has a 55% stake in the terminals, while 3i has a 45% stake. The three companies say they plan to enter into a sales and purchase agreement for the sites, subject to applicable Dutch and Belgian employee consultation procedures.
Oiltanking has been carrying out a strategic review of the four terminals, and in announcing the planned sales and purchase agreement, has entered into an advanced stage of the strategic review, which is in line with its Strategy 2025 to optimise its asset portfolio.
Evos, which is owned by investment funds managed by First Sentier Investors, says that intended agreemint is in line with its ‘long term infrastructure investment philosophy to create a leading tank storage platform with presence in the key European liquid bulk hubs.’ It adds that the acquisition will be funded through a capital increase from First Sentier and additional debt financing.