Stena in new joint venture with Golden Agri-Resources
Stena Bulk/Stena Weco has entered into a new 50/50 joint venture with the Indonesian palm oil producer Golden Agri-Resources and has, through the JV company, acquired an additional six chemical tankers. Golden Stena Weco will be responsible for the commercial management. The total investment is approximately USD 100 million.
With offices in six countries, Stena Bulk is one of the world’s leading tanker shipping companies. The company controls a combined fleet of around 100 tankers. Stena Bulk is part of the Stena Sphere, which has more than 20,000 employees and a turnover of SEK 60 billion. Golden Agri-Resources is the world’s second largest palm oil producer with its shares listed on the Singapore Stock Exchange, with a market capitalization of USD 5.3 billion.
Stena Bulk was advised by Mannheimer Swartling in the transaction. The firm’s team included Johan Ljungberg, Hanne Aarsheim, Bita Pourmotamed and Patrik Bengtsson.