Dutch independent bulk liquid storage company Evos has signed a binding agreement with Oiltanking and 3i Infrastructure to buy the four Oystercatcher terminals.
Oiltanking has a 55% stake in the Oystercatcher terminals – Oiltanking Amsterdam, Oiltanking Ghent and Oiltanking Terneuzen in the Netherlands and Oiltanking Malta – while 3i owns the remaining 45%. The terminals collectively have a 3.8 million m3 of storage. Evos, which is owned by First Sentier Investors, first announced its intention to buy the terminals in July 2021, saying that the acquisition would be 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.’ The acquisition will be funded through a capital increase at Evos by First Sentier Investors and additional debt financing.
‘This diversified portfolio of world-class liquid bulk storage terminals provides an excellent fit with First Sentier’s existing platform, Evos, and with our long-term infrastructure investment philosophy. We look forward to working with the incumbent management team and employees to continue to develop and grow the combined business,’ says Marcus Ayre, head of infrastructure investments Europe of First Sentier Investors.
‘3i Infrastructure was a pioneer among infrastructure investors into the liquids storage sector 14 years ago and Oystercatcher has proven a good investment for the company over that period. Now is an appropriate time for the four European terminals to move to new ownership, well-placed to support them into the future,’ says Richard Laing, chair of 3i Infrastructure.
The transaction is expected to be completed in Q4 2021, subject to customary closing conditions.