CLH Group – Compañía Logística de Hidrocarburos, a Spanish oil storage and transportation company, has received a strategic investment of undisclosed amount from AXA Private Equity.
Through the transaction, which values the company at c. €3.6bn on an Enterprise Value basis, AXA acquired a strategic 10% equity stake in CLH Group from DISA (DISA Financiacion SAU and Disa Peninsula SLU). CEPSA remains the largest single investor in the company with a 14.15% stake.
CLH is the owner and operator of the largest Spanish refined oil products pipeline network and forms the backbone of this infrastructure in Spain, with more than 4,000 km of pipelines and seven million m3 of storage capacity. It also provides storage capacity for refined products in Spain, including strategic national reserves.