Oiltanking completes sale of its terminal in Bulgaria
Oiltanking is pleased to announce that it has completed the sale of its 91.1% stake in the liquid storage terminal in Varna to the Astra Group.
As announced on November 3, 2022 Oiltanking GmbH sold its 91.1% interest in Oiltanking Bulgaria AD to Astra-Finance AD. This divestment has been completed following the relevant approvals by third parties. Financial details of the transaction will not be disclosed.
The remaining shares are held by the Port of Varna and are excluded from the transaction.
The terminal with a storage capacity of 25,860 cbm is strategically located at the Black Sea in Devnya, Varna and provides storage and handling services for a variety of products. It is tightly integrated in its customers’ value chains and has water, rail and pipeline access.
Oiltanking GmbH is a subsidiary of Marquard & Bahls, an agile, independent holding company in the energy & chemical sector. Through its portfolio, Oiltanking is one of the largest independent tank storage providers for gas, chemicals, and petroleum products worldwide. For more information on Oiltanking, please visit www.oiltanking.com.
Astra-Finance AD is a holding structure which includes, among others, one of top 10 biggest manufacturers of biodiesel, refined and unrefined oils and free acids in Europe and one of the biggest private transportation companies in the Balkans. Focused on developing sustainable biofuels and eco products, the Astra Group is the first private company in Bulgaria to implement an ESG strategy in its development agenda with the aim to save more than 1.5 million tons of carbon emissions for 2022 alone.