APG, on behalf of its pension fund clients ABP, bpfBOUW, and PPF APG, has announced the sale of its stake in LBC Tank Terminals to Mitsui O.S.K. Lines (MOL), one of the world’s largest shipping companies, headquartered in Tokyo.
LBC is one of the world's largest independent, chemicals-focused storage businesses, operating seven state-of-the-art terminals in Europe (Rotterdam and Antwerp) and the United States (Houston, Baton Rouge, and Freeport), with a total storage capacity of 3.3 million cubic meters. APG has been invested in LBC since 2012. During APG’s tenure, LBC has significantly improved its operations, safety standards, and sustainability performance, achieving industry-leading recognition, including a Platinum EcoVadis rating and a 5-star GRESB rating. With APG’s support, LBC has completed significant expansions and developed new projects in the chemical and new energy markets, some of which are currently under construction.
After 13 years as a shareholder, APG believes the time is right for a new owner to further develop LBC’s strategic direction, particularly in the new energy sector. The addition of a strategic investor like MOL will provide LBC with new opportunities for growth and expansion. The sale represents a complete exit by the current shareholders, with PGGM and Ardian also selling their stakes in LBC.
Published on:
10 March 2025