Estonia, Good for Business, Logistics, Mergers and take-overs, Oil, Port, Transport

The transaction follows Royal Vopak’s announcement in August 2018 that it would perform a strategic review of some of its terminals.

The new name of the logistics company will be Liwathon E.O.S., the former Vopak said.

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.

Liwathon E.O.S., the largest independent oil products terminal operator in the Baltic region, operates four terminals - Termoil, Trendgate, Pakterminal and Stivterminal - with a total storage capacity of 1,051,800 cbm. Liwathon E.O.S. terminals, which are directly connected to the international railway infrastructure, are located in the Port of Muuga, Estonia, within the Port of Tallinn. Liwathon E.O.S. offers opportunities for sea and rail transportation of oil products from Eastern Europe to Western Europe, America and Southeast Asia.