February 20, 2015 [Oiltanking GmbH] - Oiltanking GmbH announces today the expansion of the existing partnership with 3i Infrastructure plc, by entering into an agreement to sell a minority shareholding of 45 percent in each of Oiltanking Terneuzen B.V. in the Netherlands and Oiltanking Ghent N.V. in Belgium. Closing of the transactions is subject to customary regulatory approval.
As the majority shareholder, Oiltanking will continue to be the managing and operating partner. The terminal organizations will remain unchanged and the strategy of an independent liquid storage provider will be continued. This minority participation capitalizes part of the value created over the years within these well operated facilities and will fund the world-wide growth of Oiltanking’s independent storage terminal network.
Both terminals are located in the ARA region, one of the world’s major hubs for petroleum products and chemicals. Oiltanking Terneuzen, a state-of-the-art terminal in the Netherlands, offers storage infrastructure for petroleum products and chemicals. The terminal disposes of a total capacity of about 500,000 cbm, has several jetty positions and provides access to important international road and rail networks. Oiltanking Ghent is one of the largest independent storage terminals for petroleum products, biofuels and chemicals in Belgium with a total capacity of more than 1 million cbm. Next to berths for seagoing vessels and barges, road and rail connections, the terminal is also connected to the Central European Pipeline System (CEPS).
The present transaction follows 3i Infrastructure’s acquisition in 2007 of a 45 percent stake in three Oiltanking terminals – Amsterdam, Malta and Singapore. Since then, 3i Infrastructure has been a reliable and strong partner in these terminals. Oiltanking is therefore pleased to expand the existing partnership after 3i Infrastructure succeeded in a competitive bidding process.
