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.

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