LAWFUEL – The Law Newswire – Thursday 07 August 2007
The international law firm Clifford Chance advised 3i Infrastructure Limited in agreements with Oiltanking GmbH and the Malta Freeport Corporation Limited to acquire a 45 per cent interest in Oiltanking Singapore Limited, Oiltanking Amsterdam BV and Oiltanking Malta Limited.
The consideration will be financed by EUR 115 million of equity from 3i Infrastructure together with a EUR 190 million debt facility arranged by RBC Capital Markets. The transaction is subject to the approval from the antitrust authorities.
The OT Companies provide oil tank storage services in two of the three world oil trading and refining hubs, Singapore and Amsterdam, as well as in Malta, which is located at the centre of the Mediterranean trade routes. Their clients include private and state oil companies, refiners, petrochemical companies and traders in petroleum products and
The Clifford Chance team consists of Frankfurt and London lawyers. The Frankfurt team was led by partner Richard Ernest and included associates Loren Richards and Rovana Groves (all Banking & Capital Markets). The London team was led by partner Brendan Moylan and included partner Nigel Wellings as well as associates Caroline Sherrell and Sarah Bateman (all Corporate).