Odfjell SE finalizes sale of shares in Singapore tank terminal

Odfjell SE finalizes sale of shares in Singapore tank terminal

Reference is made to the stock exchange announcement of 19 October 2017, in which Odfjell Terminals BV entered into an agreement with a fund managed by Macquarie Infrastructure and Real Assets (MIRA) to sell its 50% ownership in Oiltanking Odfjell Terminal Singapore Pte for a price around USD 300 mill after debt. Odfjell SE's share of the sale is around USD 150 million when adjusting for its 51% ownership share in Odfjell Terminals B.V. The sale will result in a USD 135 million book value gain for Odfjell SE.

Odfjell announces today that the transaction has closed.

Published December 14, 2017

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