Big shipping names are being linked to a takeover of global oil storage operation LBC Tank Terminals.
US private equity giant KKR, which controls Norwegian shipowner Ocean Yield, is said to be in the running, as is Japanese owner Mitsui OSK Lines, according to sources cited by Bloomberg.
VTTI Energy Partners, backed by Vitol and Adnoc, is also reportedly considering bidding.
Initial price ideas are due in December, the sources said. Infrastructure funds may also take part.
Netherlands-based LBC could be valued at more than $1.6bn.
Its owners, APG Asset Management, Ardian SAS and PGGM, have hired Macquarie Capital to handle the auction process, sources indicated.
None of the companies said to be involved are commenting.
LBC has facilities for oil products in Europe and the US. It also offers loading and unloading services.
Storage capacity is 2.9m cbm and there are 500 staff around the world. A sale has been in the offing since June, according to earlier reports.
A deal by VTTI would see its network grow beyond 18 countries.
