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International Internet Magazine. Baltic States news & analytics Sunday, 14.04.2024, 16:51

Ventspils Nafta sells controlling stake in VNT to Dutch company

BC, Riga, 27.07.2017.Print version
Latvian holding company Ventspils Nafta has sold 51% of shares in Ventspils Nafta Tranzits (VNT) stevedore to Dutch company Martank, which also is part of Vitol group, for EUR 43.7 million, Ventspils Nafta announced, cites LETA.

Now Martank holds 51% in VNT and the remaining shares belong to Eurotank Holding Sarl, a subsidiary of the international terminal company VTTI, which is partly owned by Vitol.

 

Ventspils Nafta said that it had sold its holdings in VNT to Martank for the book value or EUR 43.7 million and had not made any profit from the deal.

 

Both Martank and Ventspils Nafta are 100-% owned by Vitol group. While VNT has ceased to be part of the Ventspils Nafta group it still remains a Vitol group company.

 

VNT, based in the Ventspils port in north-western Latvia, provides transit services - receipt, storage and loading of crude oil and petroleum products via pipelines, rail tank-cars and tankers.






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