Canadian pension fund OMERS has agreed to sell its 25% stake in Spanish energy logistics company Exolum to European real assets investment firm Stoneshield Capital and another investor.
The following details are from a joint statement on Friday:
- Stoneshield will buy a 15% stake in Exolum, after having acquired close to 5% in January. The second investor, which was not named, will acquire the remaining 10% from OMERS.
- Financial terms were not disclosed. In December, OMERS carried out a €770 million refinancing of its Exolum stake.
- Exolum, which transports, stores and distributes refined oil products, bulk liquids and aviation fuels, owns a 6,000 km (3,728 mile) pipeline network in Spain and Britain.
- It serves more than 48 airports and has over 2,300 staff.
- The deal is expected to close in the third quarter of 2026, subject to conditions and regulatory approvals.
