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NEWS BULLETIN
STORAGE TERMINALS
RUBIS SWOOPS FOR TEPSA
Rubis Terminal is to buy Terminales Portuarias (TEPSA), pending approval from authorities in Spain. The deal, which Rubis describes as a “transformational acquisition”, will be the first since Rubis sold a 45 per cent interest in Rubis Terminal to I Squared Capital in April 2020. “This acquisition shows the strength of the partnership between a large industrial group and an independent, global infrastructure investment manager,” says Sadek Wahba, chairman and managing partner of I Squared. “We are growing the size of Rubis Terminal by a third, while diversifying its activity, and opening up to other very promising markets. This is just the start: we have great ambitions for our French company, Rubis Terminal, to join the world leaders in the sector in the months and years to come.” “This acquisition is only the first step in a strategy which further consolidates Rubis Terminal’s leadership position, while diversifying its activities and its footprint,” agrees Gilles Gobin, founder and managing partner of Rubis. “This first acquisition demonstrates the positive dynamism brought by our Franco-American cooperation, based on the common objective to drive long-term growth.”
HCB MONTHLY | SEPTEMBER 2020
Jacques Nahmias, chairman of Pétrofrance, which owns TEPSA, says: “The sale of TEPSA represents an important milestone in the company’s history. This transaction allows TEPSA to join a group with an international presence, with common values and which will support its continued development in Spain as well as outside its natural borders.” TEPSA operates four coastal terminals in Spain, located in Barcelona, Tarragona, Valencia and Bilbao, with a total storage capacity of some 912,000 m3. Its revenues in 2019 amounted to €52m and, Rubis says, it has significant growth potential as a result of its strong position in the Spanish market and expansion plans that are already underway. www.rubis-terminal.com DIALOG EXPANDS LANGSAT
Dialog Group has announced an 85,000-m3 expansion of its Langsat terminal in Johor, Malaysia. The new clean product tankage is due to be in service late in 2021, taking total capacity at the site to more than 850,000 m3. More land is available that could be developed to expand capacity to 1m m3.
“Today, we are the second largest terminal owner-operator in the region with a current total operating capacity of 4.6m m3,” says Dialog Group executive chairman Tan Sri Dr Ngau Boon Keat. “We would like to sincerely thank all our stakeholders and partners for their unwavering support, as the continued development of Terminals Langsat and Pengerang Deepwater Terminals will attract more long-term investments, and help us achieve our aspiration of creating a regional oil, gas and petrochemical storage and trading hub in the south of Johor.” www.dialogasia.com WIBAX PLANS BALTIC BUY
Wibax Logistics has signed an agreement to acquire Baltic Tank, one of Finland’s leading companies in the storage and handling of chemicals and biofuels. The transaction is part of Wibax’s vision to build a leading chemical supplier and logistics group and to strengthen its position to offer services along the full value chain in the Nordic region. “The acquisition of Baltic Tank (above) is a strategic investment in Wibax’s future growth outside Sweden’s borders,” says Jonas Wiklund,
