Wednesday April 3, 2019
Abu Dhabi based Liwathon acquires Vopak E.O.S.
Today, Royal Vopak N.V. and Global Ports Investments PLC publicly announced the sale of Vopak E.O.S., the largest independent oil products terminal operator in the Baltic region. Abu Dhabi based Liwathon acquired all shares in the company, which will be renamed Liwathon E.O.S.
The transaction follows Royal Vopak’s announcement in August 2018 that it would perform a strategic review of some of its terminals.
Liwathon’s business focus is on the logistics and storage of liquid fuels in niche global markets.
“We are very excited to acquire and leverage on the substantial terminal facilities at the Port of Muuga near Tallinn, Estonia. Together, with the experienced management team, we will implement our strategy to develop a network of terminals, servicing the liquid fuels market. The company’s expertise and terminal infrastructure provide a solid foundation for developing the business further,” said Gert Tiivas, CEO of Liwathon.
“With the energy markets very much in transition and a sustained increase in global demand for liquid fuels, we see extensive opportunities becoming available to use our team’s proficiency to continue to add value, for our customers’ benefits,” said Arnout Lugtmeijer, CEO of Liwathon E.O.S..
Liwathon is owned by British investor Barclay Rowland and headquartered in the Abu Dhabi Global Market (ADGM), an international financial center in Abu Dhabi, United Arab Emirates.
The transaction price will not be disclosed.
A press briefing will take place today at 11:00 at Pirita tee 102 (2nd floor), in the premises of Liwathon E.O.S. Gert Tiivas, CEO of Liwathon, and Arnout Lugtmeijer, CEO of Liwathon E.O.S. will be speaking at the event.
For additional information:
Olga van Kampen
Tel: +372 626 6100