Odfjell Finalizes Transaction with Lindsay Goldberg
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.