Norway’s Odfjell firms up deal to acquire 25% of Belgian terminal
04 June 2012 09:25 [Source: ICIS news]
SINGAPORE (ICIS)--Norwegian logistics firm Odfjell said on Monday it has reached an agreement on its proposed acquisition of a quarter stake in
The subject of acquisition is “25% plus one share” of Noord Natie, which has operations in
“In line with the letter of intent signed in 2011, the acquisition is valued at approximately 10 x EBITDA [earnings before interest, tax, depreciation and amortisation],” the Norwegian firm said.
“The final transaction documentation is expected to be concluded by the beginning of June 2012,” it added.
The acquisition will be done through Odfjell Terminals (Europe) BV, a subsidiary of OTLG CV – a joint venture company of Odfjell Terminals BV and Lindsay Goldberg LLC.
Noord Natie Terminals’ facility in
Plans are in place to leverage the company's excess waterfront capacity via expanding the terminal’s capacity by 155,000 cbm to about 450,000 cbm in the coming years, Odfjell said.
By: Pearl Bantillo
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