Litasco SA, the international marketing arm of Russia’ Lukoil, and its joint venture partner Burando Maritime Services are selling 100 percent of their respective shares in Service Terminal Rotterdam vof (STR) to iCon Infrastructure Partners II, LP.
The transaction was entered into following two months of exclusive discussions and is expected to close at the end of April.
STR is a modern, purpose built bunker fuel terminal located in Port of Rotterdam, Netherlands with 242,000cbm storage capacity across two tank farms and a total quay length of 450m. The project was implemented by a 50/50 joint venture established in 2003 between Litasco and Burando.
In line with the agreement, Litasco will remain the primary user of STR under a long-term exclusive contract.