Through this transaction Marquard & Bahls as a group will become the indirect majority shareholder of the terminal.

Closing of the transaction is subject to customary regulatory approval.

OOT, operational since late 2008, is situated in the petrochemical hub of Sohar Industrial Port, strategically located at the entrance to the Middle East Gulf. The terminal is the only liquid storage provider in Sohar Port and Free Zone, offering a diverse and flexible terminal facility for storage and handling of chemicals, LPG and petroleum products. OOT has a capacity of almost 1.4 million cbm and operates six deep water berths. The company is specialized in providing tailor-made services to captive and non-captive customers.

OOT is a joint venture of Oiltanking Odfjell Terminals Oman BV (70 percent), Oman Oil Company (25 percent) and a private investment company (5 percent). Oiltanking GmbH already has an indirect ownership of 29.75 percent in the terminal and the acquisition will therefore increase Marquard & Bahls’ total indirect holding in OOT to 51.74 percent.

Julio Tellechea, COO of Marquard & Bahls, comments:  “We are convinced that this acquisition will strengthen our group’s leading position in providing exceptional storage services in a strategic location. We look forward to further developing the terminal together with our joint venture partners.”