Oiltanking sells shares in storage terminals
Aug 10, 2007 2:29 PM
Oiltanking GmbH, Hamburg, Germany, has agreed that 3i Infrastructure Limited will acquire 45 percent of the shares of the Oiltanking terminal facilities in Amsterdam, the Netherlands, and Malta and Singapore.
3i Infrastructure is an investment company that invests in and provides financial and strategic support to infrastructure businesses, according to Oiltanking information.
As part of the transaction, Malta Freeport Corp Ltd has agreed to divest its 30 percent shareholding in Oiltanking Malta Limited.
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.
Oiltanking Malta currently has an additional 70,000 cubic meters (about 440,286 barrels) storage capacity under construction to increase total storage capacity to 526,000 cubic meters (about 3.30 million barrels).
Oiltanking Amsterdam extends its storage capacity with another 150,000 cubic meters (about 943,471 barrels). In combination with the various earlier announced expansions this will bring the total capacity of Oiltanking Amsterdam close to 1.6 million cubic meters (about 10.06 million barrels) towards the end of 2007.
With its latest capacity expansion of 30,000 cubic meters (about 188,694 barrels) underway, Oiltanking Singapore will operate a multi-functional petroleum terminal of close to 1.3 million cubic meters (about 8.17 million barrels).
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