July 4, 2023 [Oiltanking]- Oiltanking is pleased to announce that it has sold its 100% stake in the liquid storage terminal in Copenhagen to its affiliate Mabanaft.
Oiltanking is pleased to announce that it has sold its 100% stake in the liquid storage terminal in Copenhagen to its affiliate Mabanaft.
The terminal has a storage capacity of 461,652 cbm and is strategically located at Prøvestenen island in the city of Copenhagen and provides storage and handling services for jet, road as well as marine fuels.
The divestment of the Copenhagen terminal is in line with the Oiltanking Group’s portfolio transformation program previously announced in November 2021. The terminal is well suited to support Mabanaft’s strategy as it adds another key location to Mabanaft’s existing network. It will enable them to expand their supply footprint in Europe and help them provide high-quality liquid fuel products to customers in the region.
“We sincerely thank our customers for the at times decades-long relationships and are convinced that they will continue to be in good hands with our affiliate Mabanaft. Having been established in the early 1970s as one of Oiltanking’s first international presences, we are glad to see that the terminal and its loyal and dedicated team continue their journey as part of the existing terminal network within our sister company Mabanaft” says Bas Verkooijen, CEO of Oiltanking.
“We are very happy to add this terminal and its dedicated employees to our network. Our focus will be to continue serving the loyal customers in the region and building on these existing relationships, while maintaining the highest safety and environmental standards there, and at all our terminals”, says Mabanaft CEO, Jon Perkins.
The sale has received all required third-party approvals and was completed effective 30 June 2023.
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