German terminal operator Oiltanking has completed the sale of its 55% stake in four European liquid storage terminals to Evos through its entity Evos Finance B.V. Evos, owned by funds managed by First Sentier Investors, will also acquire the 45% stake in the terminals held by co-shareholder 3i Infrastructure plc.
Oiltanking completed the divestment of the terminals following the relevant approvals by third parties. The sale was announced on September 23, 2021. Financial details of the transaction will not be disclosed.
The four terminals are Oiltanking Amsterdam B.V., Oiltanking Ghent N.V., Oiltanking Malta Limited and Oiltanking Terneuzen B.V., which collectively provide 3.8 million m3 of liquid storage capacity and associated services to a diverse range of customers. The divestment of the four terminals is a result of Oiltanking’s strategic review to continuously optimise its asset portfolio.
Oiltanking will retain its 55% stake in Oiltanking Singapore Limited, alongside 3i Infrastructure’s 45% stake.