Latham & Watkins Advises TOTAL on Transaction with EUROPORTS

Cross-border team represents leading global energy company on sale of its shares in joint venture.

December 18, 2020

Latham & Watkins LLP advised TOTAL Deutschland GmbH (TOTAL) on the sale of its shares in the joint venture Großtanklager-Ölhafen Rostock GmbH (GÖR) to EUROPORTS Terminals GmbH (EUROPORTS). Until now, TOTAL Deutschland and EUROPORTS were equal shareholders of the joint venture, which was founded in 1996 to operate the large tank farm at the oil port of Rostock an independent tank farm with a total capacity of around 700,000 m³ for the storage and handling of mineral oils, vegetable oils and other liquid goods. The sale also includes the former Minol tank terminal with land, tanks and real estate.

Total is a leading global energy company, which produces and markets fuels, natural gas and electricity. In Germany, Total is present since 1955 and currently employs more than 4,000 people. It’s affiliate TOTAL Deutschland GmbH operates the third largest retail network in the country with around 1,200 service stations. In Germany, TOTAL offers a wide range of energy products: lubricants, liquified petroleum gas, fuel oil, marine and aviation fuels, bitumen and specialty products dedicated to the industry.

Latham & Watkins LLP represented TOTAL on its transaction with a team lead by Düsseldorf partner Dr. Tobias Larisch with associates Katharina Intfeld, Dr. Fabian Klumpen, Jörg Ruff, Maximilian Berenbrok as well as London partner Simon Tysoe. Advise was also provided by Hamburg partner Otto von Gruben on real estate matters as well as partner Dr. Tobias Klass and associate Simon Pommer on tax matters.

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