Odfjell agrees Noord Natie terms

Odfjell has reached agreement on the terms of its proposed acquisition of a 25% share in Noord Natie Terminals. Odfjell expects to finalise the deal this month. The transaction, which values Noord Natie at some 10x EBITDA, will be carried out by Odfjell Terminals (Europe) BV, a subsidiary of the joint venture between Odfjell Terminals and Lindsay Goldberg.

Noord Natie currently offers storage capacity of 297,000 m3 in the port of Antwerp. Plans are already in place to add a further 155,000 m3, bringing total capacity up to some 450,000 m3.