Published by
Alex Hithersay,
Editorial Assistant
Tanks and Terminals,
Odfjell Terminals has announced that Koole Terminals B.V. has acquired 100% ownership of Odfjell Terminals Rotterdam.
Reference is made to the stock exchange announcement of 2 July 2018, in which Odfjell Terminals entered into an agreement with Dutch company Koole to sell its 100% ownership of OTR.
The sale will generate US$100 million of cash proceeds to Odfjell.
Read the article online at: https://www.tanksterminals.com/terminals/21092018/odfjell-finalises-sale-of-rotterdam-tank-terminal/
The combination will result in US$1.2 billion in cost and capital synergies, enhance free funds flow generation and support investment grade credit profile.