Royal Vopak, Dutch tank storage company, has concluded the agreement with First State Investments on the sale of its petroleum terminals in Algeciras, Amsterdam and Hamburg.
The transaction, worth EUR 723 million (USD 811.7 million), is subject to certain conditions and is expected to close in the second half year of 2019.
As informed, the divestment follows the strategic review of these terminals announced in 2018. The combined operational capacity of the three terminals is 2,288,000 cbm.
In line with its strategy, Vopak is shifting its portfolio further towards industrial, chemicals and LNG, LPG and chemical gases terminals with access to further growth opportunities.
The transaction, worth EUR 723 million (USD 811.7 million), is subject to certain conditions and is expected to close in the second half year of 2019.
In line with its strategy, Vopak is shifting its portfolio further towards industrial, chemicals and LNG, LPG and chemical gases terminals with access to further growth opportunities.
Apart from the three terminals, Vopak also conducted a strategic review of its terminal in Tallinn in 2018, subsequently deciding to dispose of the facility.
Vopak E.O.S. operates a total storage capacity of 1,026,000 cbm in the Port of Tallinn and includes the railway company E.R.S. Ltd., a wholly owned subsidiary of Vopak E.O.S.
