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. 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 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.