JSW Infrastructure Limited

JSW Infrastructure Limited has issued detail about its acquisition of Marine Oil Terminal Corp and its Fujairah Branch.

1. Target Entity and Acquisition Details:

• JSW Terminal (Middle East) FZE, a wholly-owned subsidiary of JSW Infrastructure Limited, is acquiring Marine Oil Terminal Corp, including its Fujairah Branch.
• The Fujairah Branch operates a liquid storage terminal in Fujairah, with a capacity of 4,65,000 cubic meters (cbm).
• The target entity had revenue from operations of USD 18.30 million as of December 31, 2022.

2. Industry and Objectives of Acquisition:

• The entity being acquired is in the business of liquid storage tankages situated in Fujairah Oil Industry Zone in Fujairah.
• The acquisition aligns with JSW Infrastructure’s vision to expand its cargo handling capacity, including liquid cargo, and expand its footprint in this business.

3. Completion Timeline:

• The acquisition is expected to be completed within 60 days.

4. Cost of Acquisition:

• The transaction has an Enterprise Value of USD 187 million, including the value of net working capital and other adjustments at the time of closing.

5. Percentage of Shareholding/Control:

• JSW Infrastructure Limited will acquire 100% ownership, which comprises 500 ordinary shares.

6. Background of the Acquired Entity:

• Marine Oil Terminal Corp, incorporated in Marshall Island, operates a liquid storage terminal in Fujairah with a substantial capacity.
• Revenue from operations for the last three years:
  • CY 2022: USD 18.30 million
  • CY 2021: USD 24.21 million
  • CY 2020: USD 26.56 million