OREANDA-NEWS. November 08, 2012. SORAINEN Estonia office advised Mercuria Energy Asset Management (“MEAM”) a wholly owned subsidiary of Mercuria Energy Group (“Mercuria”), in establishing a liquid bulk storage joint venture with Sinomart KTS Development (“Sinomart”), a wholly owned subsidiary of Sinopec Kantons Holdings (“Sinopec Kantons”), reported the press-centre of SORAINEN. 

The agreed transaction includes sale of 50% of MEAM’s equity interest in Vesta Terminals (“Vesta Terminals”) to Sinomart.

Vesta Terminals is a leading independent liquid bulk storage operator in Europe with a total capacity of approx 1.6 million cubic meters of petroleum products and biofuels at three terminals in Antwerp, Flushing and Tallinn. Vesta Terminal Tallinn, formerly known as Eurodek Synergy, is strategically located in Muuga Port of Tallinn (Estonia) at the heart of Baltic trade, navigable all the year round (an ice free port) and easily approachable.

SORAINEN acted as Estonian legal advisor to MEAM and the team was led by partner Toomas Prangli, specialist counsel Kadri Kallas and senior associate Paul Kunnap.