Propel exits Marstel to Norway's Stolt-Nielsen
Propel Investments has agreed to sell its 45% stake in Marstel Holdings, a bulk liquid terminal operator in Australia and New Zealand, to Norwegian firm Stolt-Nielsen for an undisclosed sum. Completion of the transaction is expected to take place in the second half of 2011.
The exit of Propel, an Australian mid-market private equity firm, will ultimately see Stolt-Nielsen take a 70% stake in Marstel as company founders and management reduce their ownership level to 30% from...
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