Litasco and Burando Maritime Services to sell Service Terminal Rotterdam to iCON Infrastructure Partners II
Litasco together with its Joint Venture partner Burando Maritime Services have entered into an agreement to sell 100% of their respective shares of Service Terminal Rotterdam (STR) to iCON Infrastructure Partners II, Port of Rotterdam said in its media release.
In line with the agreement and its development strategy, Litasco, the exclusive international marketing and trading company of Lukoil will remain the primary user of STR under a long-term exclusive contract.
The transaction was entered into following two months of exclusive discussions and is expected to close at the end of April 2015.
STR is a modern, purpose built bunker fuel terminal strategically located in the Port of Rotterdam with 242,000m3 storage capacity across two tank farms and a total quay length of 450 meters. The project was implemented by a joint venture (50/50) established in 2003 between Litasco and the Dutch company Burando Maritime Services, a leading maritime services provider in the Amsterdam-Rotterdam-Antwerp region.
