Alkion Terminals and LBC Tank Terminals have announced the signing of an agreement in which Alkion will acquire the 50% shareholding 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).
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. Currently Alkion owns a tank terminal in Amsterdam.
Post completion of the transactions with LBC and Sogestran Alkion will be operating well over 1 million cubic meter of tank capacity at 9 terminals in 4 countries. 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 are subject to customary regulatory approvals.
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.
Rutger van Thiel, CEO at Alkion Terminals and Partner at Coloured Finches, stated:
“We are delighted to welcome the customers and terminal staff to Alkion Terminals. We look forward to continue serving the European petroleum and chemical industry at our nine Alkion terminals and to pursue our ambition to further expand the Alkion network into Europe"
In parallel, Alkion will acquire the 50% shareholding of Sogestran in LBC Sogestrol. Following the concomitant completion of the transactions, Alkion will be the sole owner and operator of LBC Sogestrol, a world-class tank terminal in Le Havre, France.