September 16, 2011 [Odfjell] - Reference is made to the stock exchange announcement of 17 August 2011, in which Odfjell announced its signing of the definitive agreements for a strategic partnership with Lindsay Goldberg LLC to grow its tank terminal business in Europe and North America.
Odfjell announces that it has now closed the transaction to form the strategic partnership with Lindsay Goldberg.
Through the transaction, Lindsay Goldberg has acquired a 49% interest in each of Odfjell’s tank terminals in Rotterdam, Netherlands and Houston, Texas as well as in the greenfield project in Charleston, South Carolina. Odfjell retains the remaining 51% ownership stake.
Odfjell has received a total cash consideration of USD 247 million in connection with the transaction, and the parties will invest a total of EUR 25 million of new equity to facilitate planned upgrades and capacity expansion of the Rotterdam terminal.
