STOLT NIELSEN TO SELL BULK LIQUID TERMINALS
Stolt-Nielsen Transportation Group Ltd., a wholly owned subsidiary of Stolt-Nielsen S.A., has signed an agreement with Kinder Morgan Energy Partners, L.P. for the sale of its Chicago and Perth Amboy, N.J., bulk liquid terminal facilities for $70 million.
The transaction is expected to be completed by the end of SNSA’s fiscal year on Nov. 30.
“This divestiture of non-core assets will enable us to pay down debt and deleverage the balance sheet,” said Reginald Lee, chief executive officer of SNTG.