German Oil Transporter Targets 20 Per Cent Stake In Açu Port Oil Terminal

Chediak Advogados is advising German oil storage and transport company Oiltanking on its acquisition of a 20 per cent stake in an oil terminal unit at Rio de Janeiro's Açu Port, the world's third-largest port complex, for US$200 million.

Brazilian port operator Prumo Logística, which is controlled by US private equity firm EIG Global Energy Partners, hired Veirano Advogados. Oiltanking is a subsidiary of Marquard & Bahls, a family-owned Hamburg-based oil shipping and storage company. Both companies announced the deal on 6 August.

The transaction saw Prumo create an entirely new company called Açupetroleo, to which it contributed a number of assets - including an iron ore terminal, operations relating to offshore...