June 21, 2013 [SeaTrade Global] - US private equity firm Lindsay Goldberg (LG) has expanded its stake in Odfjell's global tank terminal segment to 49% of the Norwegian group's global activities.
The deal, finalised earlier this year, sees LG acquire a 49% interest in Odfjell Terminals AS (OTAS), the holding company for substantially all of Odfjell’s tank terminal activities. In exchange for the 49% stake, LG has injected $219.2m into the business by way of a capital increase.
As part of the global expansion of OTAS, LG turned in its existing 49% stakes in Odfjell’s tank terminals in Rotterdam and Texas (Houston) as well as in the greenfield project in Charleston, all which it bought for $247m in 2011.
