Niels G. Stolt-Nielsen, the company’s chief executive officer, said the deal will cover Stolt-Nielsen’s tonnage replacement needs for the next several years, create operational savings, add new trade routes, and expand its presence on key trade lanes.
Stolt-Nielsen Limited said it has completed its previously announced acquisition of the chemical tanker operations of Jo Tankers, consisting of 13 chemical tankers and a 50 percent share in a joint venture with eight chemical tanker newbuildings, representing an enterprise value of $575.0 million.
Stolt-Nielsen said earlier this month that it had received unconditional competition authority approvals for the acquisition.
Niels G. Stolt-Nielsen, the company’s chief executive officer, said the deal will cover Stolt-Nielsen’s tonnage replacement needs for the next several years, create operational savings, add new trade routes, and expand its presence on key trade lanes.
Stolt-Nielsen completes acquisition of Jo Tankers
Key Takeaways:
- Stolt-Nielsen Limited acquired Jo Tankers' chemical tanker operations for $575 million.
- The acquisition includes 13 chemical tankers and a 50% stake in a joint venture with 8 newbuilds.
- The deal secures Stolt-Nielsen's tonnage needs for years to come.
- Expected benefits include operational savings, new trade routes, and expanded presence in key lanes.
Key takeaways sponsored by SONAR
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