Oiltanking Divests Minority Shareholdings in Amsterdam, Malta and Singapore
Retroactively to January 1, 2007 Oiltanking signs an agreement under which 3i Infrastructure Limited acquires 45% of shares of the Oiltanking terminal facilities in Amsterdam, Malta and Singapore. As the majority shareholder, Oiltanking continues to be the managing and operating partner. This minority divestment capitalizes part of the value created over the years within these well-operated facilities and will fund the targeted world-wide further growth of Oiltanking’s independent network of storage terminals.
Oiltanking Malta has an additional 70,000 cbm tank capacity under construction at this time. The new tanks will increase its total storage capacity to 526,000 cbm.
Oiltanking Amsterdam expands its storage capacity by another 150,000 cbm. In combination with the various expansions announced earlier, this will bring Oiltanking Amsterdam’s total capacity to nearly 1.6 million cbm by the end of 2007.
Including its latest capacity expansion of 30,000 cbm, Oiltanking Singapore operates a multi-functional petroleum terminal of close to 1.3 million cbm that serves the local and regional market from its strategic location on Jurong Island.