Alkion Terminals (Alkion) and LBC Tank Terminals (LBC) have announced that the transaction in which Alkion acquired the 50% shareholding of LBC in LBC Sogestrol and the full ownership of four tank terminals in France (Bayonne, Le Havre, Marseille, Nantes), two tank terminals in Spain (Cartagena, Santander) and one tank terminal in Portugal (Lisbon) was completed.
In parallel, Alkion and Sogestran announced that the transaction in which Alkion acquired the 50% shareholding of Sogestran in LBC Sogestrol was completed. Following the concomitant financial close of the transactions, Alkion will be the sole owner and operator of LBC Sogestrol, a tank terminal in Le Havre, France.
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. Following the transactions Alkion owns and operates nine terminals in four countries with a tank capacity of well over one million m3. 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 its existing and new customers a world-class service.
The transactions have been financed by CACIB, SEB, HSH Nordbank, Santander, BRED and UBS Asset Management.
Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/05072017/tank-terminal-transaction-complete/