Kuwait firm Agility’s Tristar to buy 51 percent of HG Storage International

Tristar Transport, which is owned by Kuwaiti logistics company Agility AGLT KW, will buy a 51 percent stake in HG Storage International from China’s HNA Group for $215 million, it announced on March 27.

The deal will give Tristar access to a portfolio of storage and logistics businesses for petroleum products in eight countries, Agility said in a statement.

Commodities trading firm Glencore GLEN L will still own 49 percent in HG Storage International.