Odfjell Finalizes Transaction with Lindsay Goldberg
Reference is made to the stock exchange announcement of 6 May 2013, in which Odfjell announced its signing of the definitive agreements to expand existing joint venture with Lindsay Goldberg to include substantially all of the Odfjell's tank terminals business globally.
Odfjell announces that the transaction with Lindsay Goldberg has been closed.
As part of the transaction, Lindsay Goldberg has acquired a 49% interest in Odfjell Terminals AS ("OTAS"), the holding company for substantially all of Odfjell's tank terminals activities. In exchange for a 49% share in OTAS, Lindsay Goldberg has made a cash investment in OTAS, by way of a capital increase of USD 219.2 million. This comes in addition to the contribution of their 49% share in the existing joint venture. As a result, all of the assets in the existing joint venture will be owned by OTAS. OTAS is now owned 51% by Odfjell and 49% by Lindsay Goldberg.