Alkion Terminals (Alkion) and LBC Tank Terminals (LBC) have  signed an agreement in which Alkion will acquire the 50% shareholding of LBC in LBC Sogestrol and the full ownership of four tank terminals in France (Bayonne, Le Havre, Marseille, and Nantes), two tank terminals in Spain (Cartagena and Santander) and one tank terminal in Portugal (Lisbon).

In parallel, Alkion and Sogestran announced the signing of an agreement in which Alkion will acquire the 50% shareholding of Sogestran in LBC Sogestrol. Following the concomitant completion of the transactions, Alkion will be the sole owner and operator of LBC Sogestrol, a world-class tank terminal in Le Havre, France.

Rutger van Thiel, chief executive officer at Alkion Terminals and partner at Coloured Finches, said: “We are delighted to welcome the customers and terminal staff to Alkion Terminals. We look forward to continue serving the European petroleum and chemical industry at our nine Alkion terminals and to pursue our ambition to further expand the Alkion network into Europe.

Established in 2016 as a new independent tank terminal operator focusing in Western Europe, Alkion is creating a network of tank terminals that perform a primary role in the hydrocarbon downstream value chain. Currently Alkion owns a tank terminal in Amsterdam, The Netherlands. Post completion of the transactions with LBC and Sogestran Alkion will be operating well over one million cubic meter of tank capacity at nine terminals in four countries.

The eight new terminal additions to the Alkion portfolio are located in key locations offering high quality service to an extensive portfolio of long term customers based on an excellent reputation. Alkion Terminals intends to invest further in improving and expanding the assets to provide existing and new customers a world-class service.

The transactions are subject to customary regulatory approvals.