Oiltanking announces intention to sell its 37% stake in OTMS

December 18, 2024

Oiltanking has announced its intention to sell its 37% stake in Oiltanking MOGS Saldanha (OTMS) to Aquarius Energy. Aquarius Energy, backed by Tristar and Glencore, is a globally recognized terminal operator. This divestment is part of Oiltanking's strategic transformation. Aquarius Energy, with its vast experience and global reach, is well-positioned to support OTMS into the next phase of its development

Bas Verkooijen, CEO of Oiltanking, said: "The divestment is in line with the Oiltanking Group’s portfolio transformation program previously announced in November 2021.”

The deal is expected to close in Q1 2025.