Alkion Terminals, LBC Tank Terminals and Sogetran announce the closing of two transactions for eight tank terminals in France, Spain and Portugal
Amsterdam / Mechelen / Le Havre, July 4, 2017
Alkion Terminals (Alkion) and LBC Tank Terminals (LBC) today announced the completion of a transaction in which Alkion acquired the 50% shareholding of LBC in LBC Sogestrol and the full ownership of 4 tank terminals in France (Bayonne, Le Havre, Marseille, Nantes), 2 tank terminals in Spain (Cartagena, Santander) and 1 tank terminal in Portugal (Lisbon).
In parallel, Alkion and Sogestran today announced the completion of a transaction in which Alkion acquired the 50% shareholding of Sogestran in LBC Sogestrol. Following the concomitant financial close of the transactions, Alkion will be the sole owner and operator of LBC Sogestrol, a world-class tank terminal in Le Havre, France.
Established in 2016 as a new independent tank terminal operator focusing in Western Europe, Alkion is creating a network of tank terminals that perform a primary role in the hydrocarbon downstream value chain. Following the transactions Alkion owns and operates 9 terminals in 4 countries with a tank capacity of well over 1 million cubic meter.
The eight new terminal additions to the Alkion portfolio are located in key locations offering high quality service to an extensive portfolio of long term customers based on an excellent reputation. Alkion Terminals intends to invest further in improving and expanding the assets to provide its existing and new customers a world-class service.
The transactions have been financed by CACIB, SEB, HSH Nordbank, Santander, BRED and UBS Asset Management.
The parties have been advised in the process by the following parties:
- DC Advisory (financing), Herbert Smith Freehills (legal), KPMG (tax & accounting) and Nexant (commercial) advised Alkion Terminals on the transaction.
- Lazard (financing) and Linklaters (legal) advised LBC on the transaction.
- Sekri Valentin Zerrouk (legal) advised Sogestran.