Brief: Odfjell SE sells its share in Singapore tank terminal

Odfjell SE

19/10/2017 15:12

Oct 19 (Reuters) - ODFJELL SE  ODF.OL : 
    * REG-ODFJELL SE SELLS ITS SHARE IN SINGAPORE TANK TERMINAL 
    * AGREEMENT WITH A FUND MANAGED BY MACQUARIE INFRASTRUCTURE 
AND REAL ASSETS TO SELL ITS 50% OWNERSHIP IN OILTANKING ODFJELL 
TERMINAL SINGAPORE PTE LTD FOR A PRICE AROUND USD 300 MILLION 
    * THIS IMPLIES AN ENTERPRISE VALUE OF AROUND USD 330 
MILLION FOR ODFJELL TERMINALS B.V.'S SHARE IN SINGAPORE 
TERMINAL 
    * ODFJELL TERMINALS ENTERED INTO AGREEMENT TO SELL ITS 50% 
OWNERSHIP IN OILTANKING ODFJELL TERMINAL SINGAPORE PTE LTD 
    * TRANSACTION WILL RESULT IN A NET GAIN FOR ODFJELL SE OF 
APPROXIMATELY USD 135 MILLION 
    * TRANSACTION WILL RESULT IN A NET GAIN FOR ODFJELL SE OF 
APPROXIMATELY USD 135 MILLION (ODFJELL SE'S SHARE) 
    * CLOSING OF TRANSACTION IS SUBJECT TO CUSTOMARY REGULATORY 
APPROVAL AND IS EXPECTED DURING Q4 OF 2017 
    * CLOSING OF TRANSACTION IS EXPECTED DURING Q4 OF 2017 
 
Source text for Eikon:  ID:nGNE5LP4Wt  
Further company coverage:  ODF.OL  
 
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