Lindsay Goldberg Mulls Sale of 49 Pct Stake in Odfjell Terminals
American private equity firm Lindsay Goldberg (LG) is considering a sale of its 49 percent shareholding in Odfjell Terminals B.V. (OTBV).
Announcing the development, Norwegian shipping and tank terminal company Odfjell, which owns the remaining 51 percent in the joint venture, said that it continues to consider the company as its core business.
“We are committed long-term to owning, developing and operating tank terminals. However, as a part of LG’s considered sale, Odfjell will evaluate selling its indirect 51 pct shareholding in OTBV subsidiary Odfjell Terminals Rotterdam,” Odfjell said.
LG has been Odfjell’s joint venture partner in OTBV’s US and European terminals since 2011.
In 2013, the partnership was expanded to include OTBV’s global terminal operations.
Odfjell’s existing tank terminals are located in Rotterdam, the Netherlands, Antwerp, Belgium, Sohar, Oman, Singapore, Onsan, Korea, Dalian, Jiangyin and Tianjin in China, and Houston and Charleston in the U.S.
One tank terminal is under development in Quanzhou in China. Odfjell SE has also a minority shareholding in the BIK terminal in Iran.