Odfjell Finalizes Transaction with Lindsay Goldberg

Friday, September 16, 2011

Odfjell announced it has closed the transaction to form the strategic partnership with Lindsay Goldberg. Through the transaction, Lindsay Goldberg has acquired a 49% interest in each of Odfjell's tank terminals in Rotterdam, Netherlands and Houston, Texas as well as in the greenfield project in Charleston, SC. Odfjell retains the remaining 51% ownership stake. Odfjell has received a total cash consideration of $247m in connection with the transaction, and the parties will invest a total of EUR 25 million of new equity to facilitate planned upgrades and capacity expansion of the Rotterdam terminal. 
 

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