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NEWS BULLETIN
TANKS & LOGISTICS
VTG ON SALE AGAIN
VTG is on the brink of being sold again, six years after Morgan Stanley Investment Partners (MSIP) and Joachim Herz Stiftung acquired a majority share. The two parties have agreed to sell their 72.55 per cent holding to the Abu Dhabi Investment Authority (ADIA) and Global Infrastructure Partners (GIP), which will take equal shares. The deal values VTG at some €7 bn. “The growth of Europe’s rail freight market is backed by a modal shift to rail as a key enabler of the decarbonisation of supply chains,” notes Khadem Al Remeithi, executive director of ADIA’s Infrastructure Department. “This investment in VTG aligns with our continued focus on pursuing infrastructure opportunities backed by strong energy transition-related tailwinds. For this transaction we have worked hand-in-hand with GIP, a long-standing partner, to invest in a market leading business with an established track record.” Adebayo Ogunlesi, chairman/CEO of GIP, says: “We are excited by this investment and the opportunity to leverage GIP’s deep industry expertise in the rail sector to build on a market-leading European transport infrastructure platform. This acquisition is aligned with GIP’s energy transition and decarbonisation strategy as the European rail sector is set to benefit from significant policy support as one of the most deliverable and cost-effective near-term decarbonisation levers available to governments for meeting net zero targets in transport. This transaction complements other recent high quality investments to place GIP in an excellent position in the current macroeconomic environment. We look forward to partnering with ADIA and working with them to develop this unique platform.” Christoph Oppenauer, managing director of MSIP, adds: “MSIP had identified VTG early on as a remarkably resilient transport asset with
HCB MONTHLY | JULY-AUGUST 2022
a stable track record and viewed it as having strong growth potential. Through multiple transformational measures and consistent portfolio alignment, MSIP believes it has prepared the company for the next stage of its growth story.” Hamburg-based VTG currently has some 88,500 rail cars in its portfolio, the largest privately owned fleet in Europe; it comprises tank wagons, intermodal wagons, standard freight wagons and sliding-wall wagons as well as about 5,000 tank containers. Besides hiring out rail freight wagons and tank containers, it also provides multimodal logistical services and integrated digital solutions. Completion of the transaction is subject to customary closing conditions. www.adia.ae www.vtg.com MORE FOR MILKYWAY
Lingang Special Logistics, a joint venture between Lingang Group and Milkyway Chemical Supply Chain Service, has opened a new warehouse complex in the Shanghai Lingang Logistics Park in the Yangtze estuary.
The complex features five warehouses with a total capacity of 7,800 m2 for dangerous chemicals, including cold storage, temperaturecontrolled areas and dedicated areas for the storage of gases. It offers links to air, sea, rail, road and river transport. The partners plan to add other services, including distribution, export packing, import inspections and a bonded area. “The launch of Lingang Special Logistics will provide essential hazardous chemical supply chain services for high-end manufacturing and industries such as new energy vehicles, chip semiconductors and biomedicine in the new area, greatly alleviating the cost and safety problems of cross-district storage and supply for enterprises,” says Yuan Guohua, chairman of Lingang Group. Milkyway embarked last year on an aggressive global expansion plan and reports that it is progressing well. The Singapore branch, opened late last year, has already garnered contracts with several multinational chemical producers, including BASF, Dow, Arkema and ChevronPhillips, for local logistics services. Branches in the US and Germany
