April 6, 2013 [HES Beheer] - H.E.S. Beheer N.V. and Noble Netherlands B.V., a subsidiary of Noble Group Limited, which are currently joint owners of Botlek Tank Terminal (B.T.T.) B.V., have reached agreement in principle on HES Beheer’s acquisition of Noble Netherlands’ 50% interest in BTT. After the transaction, HES Beheer will own 100% of BTT.
The proposed acquisition is entirely consistent with HES Beheer’s strategy of expanding its product range and becoming a more prominent player in the liquid bulk market. Completion of the proposed acquisition is expected within two months.Noble Group will continue to be one of Botlek Tank Terminal’s major customers. After the transaction, liquid bulk will account for around 14% of HES Beheer’s consolidated revenue.
BTT has a new state-of-the-art terminal with ample deepwater berths and facilities for the transhipment and storage of a wide range of liquid bulk products, such as mineral oils, ethanol, edible oils and biofuels. BTT commenced operations in 2012 and ended its first year in profit.
The existing terminal, consisting of 34 storage tanks with a combined capacity of 200,000 m3. Reclamation of part of the Botlek harbour adjacent to the existing site, which has been commissioned by the Port of Rotterdam, is currently in progress. The reclaimed site, which is currently scheduled for partial hand-over in mid-2013 and completion in mid-2014, will double the size of the existing terminal and allow storage capacity to be increased from 200,000 m3 to around 750,000 m3.
The additional 550,000 m3.jpg)
