Newly formed tank terminal operator Alkion Terminals has strengthened its presence in Europe with acquisitions in France, Spain and Portugal.

The company has taken full ownership of LBC Sogestrol and its tank terminal in Le Havre, France, following the purchase of both 50% stakes held by previous owners LBC Tank Terminals and Sogestran.

Alkion also acquired from LBC full ownership of four terminals in France (Bayonne, Le Havre, Marseille and Nantes), two terminals in Spain (Cartagena and Santander) and one in Portugal (Lisbon). Financial terms were not disclosed.

Following the deals, Alkion now owns and operates nine terminals in four European countries - Netherlands, France, Spain and Portugal - with a tank capacity of more than 1 million cubic meters.

Alkion was set up in 2016 as a new independent tank terminal operator focused on western Europe. It is a partnership between French infrastructure investor InfraVia Capital Partners and Dutch downstream oil company Coloured Finches. Alkion said it intends to invest further in improving and expanding its assets.