Stolt-Nielsen Limited to Acquire Terminal Network in Australia and New Zealand
LONDON - Stolt-Nielsen Limited (Oslo Børs: SNI) announced today that it has agreed to acquire a majority stake in Marstel Terminals, a privately held network of nine bulk-liquid storage facilities in Australia and New Zealand, with a total combined storage capacity of approximately 177,000 cbm.
Upon the completion of the transaction, SNL will own 70% of the business, with the remaining 30% of the equity to be held by the founders, Graham and Anne Catley, who will continue as managers. The acquisition is expected to be completed by late summer 2011, subject to certain government approvals. Following the acquisition, the Company plans to expand the business, both by adding capacity at existing terminals and by developing new locations.
Commenting on the acquisition, Niels G. Stolt-Nielsen, Chief Executive Officer of
Stolt-Nielsen Limited, said: “We are pleased to be adding these terminals to the Company’s global storage and distribution network, complementing our regional tanker operations in Asia Pacific.”
About Stolt-Nielsen Limited
Stolt-Nielsen Limited (SNL or the “Company”) is a leading global provider of integrated transportation solutions for bulk liquid chemicals, edible oils, acids, and other specialty liquids through its three largest business divisions, Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers. Stolt Sea Farm produces and markets high quality turbot, sole, sturgeon, and caviar. Stolt-Nielsen Gas transports liquefied petroleum gas (LPG) with its fleet of very large gas carriers (VLGCs). Stolt-Nielsen Limited is listed on the Oslo Stock Exchange.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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