ShippingWatch

Odfjell signs final agreement with equity fund

Odfjell has signed a new agreement with private equity fund Lindsay Goldberg. The fund acuires shares in Odfjell's terminal activities while the Norwegian tank operator receives a capital increase of USD 219.2 million.

Photo: Odfjell

Norwegian Odfjell has signed financial transaction agreements to expand its joint venture with private equity fund Lindsay Goldberg. The agreement includes all of Odfjells global terminal acitivities, and gives the company a significant capital increase, writes the company in a press release.

Lindsay Goldberg will acquire a 49 percent interest in Odfjell Terminals A/S (OTAS), and Odfjell gets a capital increase of USD 219.2 million as well as Lindsay Goldberg's existing 49 percent share of the existing joint venture. This means that Odfjell Terminals A/S will own all the assets of the existing joint venture, while the terminal company will be owned by Odfjell with 51 percent of the shares and Lindsay Goldberg with 49 percent.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

ECSA's new secretary general balances on a razor's edge

ECSA’s newly appointed secretary general, Sotirs Raptis, has taken up the helm of an organization criticized by its own members for being invisible. In an interview with ShippingWatch, Raptis explains how he intends to alter that image.

Further reading

Related articles

Latest news

See all jobs