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Sales transactions

Aves oil terminal: Turkey

Aves, the owner and operator of a major petroleum products terminal in Turkey and a new offshore tanker mooring platform at Mersin, wanted to bring another investor into its business.

Acting as a sales agent for the client, Channoil prepared an independent business plan and identified the target market of prospective investors, issuing a Teaser and a comprehensive Memorandum of Information. We also carried out an evaluation of the prospective bidders and drew up a short listing of the most promising, making recommendations to Aves' shareholders on which bid to select.

A buy-in was successfully concluded, with Channoil being involved in the negotiation process between the client and the selected bidder all the way through to the exchange of contracts and closure of the deal.

Oil terminal: Malta

A large US oil and gas company appointed Channoil to act as financial adviser in respect of the acquisition of an oil terminal and bunkering company in Malta. Our services covered all aspects of the transaction and included the provision of a market assessment, enterprise and replacement cost valuations, and technical and operational due diligence.

Subsequently, the client company was taken over by another US major, which decided, following a strategy review, to divest downstream oil assets, including the Malta business. Channoil acted as adviser for all aspects of the subsequent sale to private investors based in Malta.

Petrotrade refinery: Belgium

A potential buyer of the Petrotrade refinery in Antwerp required due diligence on the unit as well as technical and commercial input to the valuation model. Channoil was called in to work alongside the client's financial advisor to provide:

ABN AMRO Bank – oil storage business acquisition

Channoil was part of a multi-disciplinary consortium acting for ABN AMRO Bank to advise on the acquisition of 45% of Oiltanking’s oil storage businesses in Singapore, Amsterdam and Malta.  The assets in question totalled some 3.4 million m3 of storage capacity and in some cases included access to extensive trunk pipeline systems. 

Channoil formed and led an industry advisory group which undertook all the necessary commercial and technical due diligence work. This took into account future trade flows and other oil market developments such as the impact of bio-fuels.  We provided key input data that might be needed by the client, its financial advisors or potential lenders, for valuation modelling.  This data included our forecast of likely future storage and throughput rates and occupancy.

In the course of our work we carried out:

 

 

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Phone: +44 20 7583 7873
Email: consult@channoil.com