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
