Marquard & Bahls Acquires Additional Stake in its Oman Terminal Co-Owned by Oiltanking
17.10.2016 - Hamburg:
Marquard & Bahls Group expands its investment in Oman by acquiring 21.99 percent of the indirect ownership in Oiltanking Odfjell Terminals & Co. LLC (OOT). Through this transaction Marquard & Bahls as a group will become the indirect majority shareholder of the terminal. Closing of the transaction is subject to customary regulatory approval.
OOT, operational since late 2008, is situated in the petrochemical hub of Sohar Industrial Port, strategically located at the entrance to the Middle East Gulf. The terminal is the only liquid storage provider in Sohar Port and Free Zone, offering a diverse and flexible terminal facility for storage and handling of chemicals, LPG and petroleum products. OOT has a capacity of almost 1.4 million cbm and operates six deep water berths. The company is specialized in providing tailor-made services to captive and non-captive customers.
OOT is a joint venture of Oiltanking Odfjell Terminals Oman BV (70 percent), Oman Oil Company (25 percent) and a private investment company (5 percent). Oiltanking GmbH already has an indirect ownership of 29.75 percent in the terminal and the acquisition will therefore increase Marquard & Bahls’ total indirect holding in OOT to 51.74 percent.
Julio Tellechea, COO of Marquard & Bahls, comments: “We are convinced that this acquisition will strengthen our group’s leading position in providing exceptional storage services in a strategic location. We look forward to further developing the terminal together with our joint venture partners.”
Oiltanking GmbH is a subsidiary of Marquard & Bahls, a Hamburg-based family-owned company that operates in the fields of energy supply, trading and logistics. Oiltanking is the second largest independent tank storage provider for petroleum products, chemicals and gases worldwide. The company owns and operates 81 terminals in 23 countries within Europe, North and South America, Middle East, Africa, India as well as in Asia. Oiltanking has an overall storage capacity of 21 million cbm.
Marquard & Bahls AG is a Hamburg-based family-owned company that operates in the fields of energy supply, trading and logistics. Its core lines of business include trading, tank storage logistics and aviation fuelling. Furthermore, the company is active in dry bulk handling, upstream services, renewable energies, carbon trading, fuel analysis and gas supply. Through its subsidiaries, Marquard & Bahls has a presence in 40 countries in Europe, America, Asia and Africa and employs around 8,700 people. www.marquard-bahls.com
Dr. Jörg Walter
Head of Corporate Communication
Marquard & Bahls AG
Phone +49 40 37004-0