January 11, 2021 [Global Legal Chronicle] – Clifford Chance has advised EUROPORTS Terminals Rostock GmbH, while Latham & Watkins LLP advised TOTAL Deutschland GmbH on the deal..
EUROPORTS concluded a sale and purchase agreement with TOTAL Deutschland GmbH for TOTAL Deutschland’s shares in the joint venture Großtanklager-Ölhafen Rostock GmbH (GÖR) and the former Minol tank terminal with land, tanks and real estate.The closing of the transaction is subject to approval by the relevant authorities.
EUROPORTS was already an equal shareholder in the GÖR joint venture, which was founded in 1996 with TOTAL Deutschland and is an independent tank terminal with a total capacity of around 700,000 m³ for the storage and handling of mineral oils, vegetable oils and other liquid goods. In addition to the TOTAL and EUROPORTS tank farms, GÖR also operates the tanks of PCK Raffinerie GmbH Schwedt and Dow Olefinverbund GmbH Böhlen on site.
EUROPORTS has now signed long-term storage handling contracts with TOTAL Germany, which intends to continue using the tank terminal in the future.
EUROPORTS is a leading port logistics specialist throughout Europe. The transaction allows the company to continue its long-standing and proven cooperation with TOTAL Deutschland, while strengthening its strategic position in Germany and further diversifying its liquid cargo activities. EUROPORTS leveraged Clifford Chance’s recognized experience in infrastructure deals for the acquisition.
The Clifford Chance team for EUROPORTS comprised partner Anselm Raddatz (Picture – Düsseldorf/Frankfurt), associate Denise Rosenau (Düsseldorf) and counsel Susanne Werry (Frankfurt) (all Corporate M&A); partner Thomas Reischauer (Real Estate, Frankfurt); partner Michael Dietrich, counsels Dimitri Slobodenjuk and Maximilian Graf Zedtwitz von Arnim, the associates Arne Gayk and Anna Maurer (all Competition/FDI, Düsseldorf); partner Mathias Elspaß (Public Law/Environment, Düsseldorf) as well as partner Olaf Mertgen (Tax, Frankfurt).
Inhouse advice was provided by Patrick Biesdorf (Chief Legal Counsel Euroports).
Latham & Watkins LLP represented TOTAL on its transaction with a team led by Düsseldorf partner Dr. Tobias Larisch with associates Katharina Intfeld, Dr. Fabian Klumpen, Jörg Ruff, Maximilian Berenbrok as well as London partner Simon Tysoe. Advise was also provided by Hamburg partner Otto von Gruben on real estate matters as well as partner Dr. Tobias Klass and associate Simon Pommer on tax matters.
Click Here to Access Today a 6,000 Tank Terminal Database With a Pro Trial
6,000 terminals as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data