Advising Macquarie on the sale of TanQuid to Sunoco

TanQuid, headquartered in Duisburg, Germany, is the largest independent liquid petrochemical storage operator in Germany, providing external storage and shipment services to international mineral oil and chemical industry clients. TanQuid operates over 3 million cubic metres of storage facilities across 15 inland sites in Germany and one in Poland located in strategically important transportation points.

Macquarie-managed funds first invested in TanQuid in 2005. During its 20-year ownership, Macquarie has supported the business through organic growth and strategic acquisitions. Over the period, the total capacity of the portfolio was increased from 2.5 million cubic metres to more than 3.1 million cubic metres today and the number of tank farm sites have doubled from 8 to 16.

As part of the portfolio’s continued growth, TanQuid’s business was diversified towards energy transition products, becoming one of the first German operators to store commercial hydrotreated vegetable oil and sustainable aviation fuel, and continues to lead the German commercial market in the storage and handling of these products.

The transaction is expected to reach financial close in 2025, subject to regulatory approvals and satisfaction of customary closing conditions.

The A&O Shearman team was led by partner Max Landshut and counsel Marie-Luise von Buchwaldt (both Corporate/M&A, both Hamburg).

The core team also included partner Dr. Magnus Müller, counsel Dr. Jens Denninger (both Tax, both Munich), senior associate Axel Jost, as well as associates Dr. Jonas Schuck, Juliana Palavra Gorgueira, and Antonia Pfaff (all Corporate/M&A, all Hamburg).

In addition, the team comprised partners Markulf Behrendt (Hamburg), Peter Wehner (both Employment), Dr. Jochen Scheel (Real Estate), Dr. Udo Olgemöller (Public Law, all Frankfurt), Catharina Glugla (Data Protection), Dr. Jens Matthes (IP/IT, both Düsseldorf), counsel Justyna Ostrowska (IP/IT/Data Protection, Warsaw), senior associates Anna Kräling (IP/IT, Düsseldorf), Tom Haeseler (Banking & Finance, Frankfurt), Merle Herrmann (Hamburg), Dr. Sven Gunkel (Frankfurt, both Employment), Maciej Szykut, Joanna Kaleta (both Corporate/M&A), Antoni Roszkowski (Public Law, all Warsaw), Simon König and Hasan Kaya (both Real Estate, both Frankfurt), as well as associates Johann von Pachelbel (Hamburg), Jan Spierzak (both Corporate/M&A), Pawel Grzesik (Public Law, both Warsaw), Pascal Yves Schröder (Data Protection), Katharina Jünemann (IP/IT, both Düsseldorf), Janina Müller (Public Law), Paul Gerlach, Franziska Tischler (all Frankfurt), Katarzyna Fus-Starzec (Warsaw, all Real Estate Law), and Viktoria Brauneck (Tax, Munich).