Ellex Raidla has advised Oiltanking GmbH on its sale of the Oiltanking Tallinn terminal to Aqua Marina AS, the holding company of the Olerex Group. Aavik & Partnerid reportedly advised Olerex on the acquisition.
The transaction closed on August 30, 2019. As a result of the acquisition, the terminal will be renamed Olerex Terminal.
Olerex is a Estonian fuel retail company founded in 1994. The company has nearly 100 stations in its network and a retail presence across the Baltics.
Oiltanking is a subsidiary of Marquard & Bahls, a Hamburg-based company that operates in the fields of supply, trading, and logistics of energy & chemicals. The company owns and operates 71 terminals in Europe, North America, Latin America, the Middle East, Africa, India, and the Asia-Pacific region.
The Ellex Raidla team consisted of Partner Sven Papp and Senior Associate Gerda Liik.