People & Business :: M&A
Odfjell to Buy Stake in Antwerp Storage Terminal
10:38 AM MDT | September 2, 2011 | Ian Young
Chemical shipping and tank storage company Odfjell has agreed to buy a minority stake in the Noord Natie Terminal (NNT) tank storage terminal at Antwerp. Odfjell will buy a stake of greater than 25% in the NNT terminal through Odfjell Terminals Europe, a recently formed joint venture with private equity firm Lindsay Goldberg (New York). Terms of the acquisition were not disclosed. NNT generated sales of almost €23 million in 2010. NNT will use proceeds from sale of the stake to expand the Antwerp terminal's tank storage capacity by up to 112,000 cu meters...
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