Royal Vopak: Update divestment terminal in Algeciras
09 Octobre 2019 - 4:55PM
Royal Vopak: Update divestment terminal in Algeciras
Rotterdam, the Netherlands, 9 October 2019Today, Royal Vopak
provides an update related to the earlier announced divestment of
its terminal in Algeciras in Spain to First State Investments. On
30 September 2019 Vopak updated the market that for the divestment
of the terminal in Algeciras, Vopak was still in discussion with
the minority shareholder Vilma Oil.Today Vopak has concluded the
discussions with the minority shareholder in Vopak Terminal
Algeciras and has acquired the 20% of the shares held by Vilma Oil.
Vopak has an agreement with First State Investments for the sale of
100% of the shares in Vopak Terminal Algeciras. The completion of
this transaction is subject to customary closing
conditions. The total transaction value agreed with First
State Investments for 100% of the shares in the terminal is EUR 125
million and the transaction is expected to generate a net pre-tax
cash inflow for Vopak of approximately EUR 120 million at
completion. The total expected exceptional gain before taxation
will be around EUR 10 million.
At the completion of the transaction of the terminal in
Algeciras, the use of the proceeds, including those of the
completed sale of Hamburg and Amsterdam, will be announced in line
with the strategy and financial framework as presented at the Vopak
Capital Markets Day 27 November 2018.
Profile Vopak Royal Vopak is the world’s leading
independent tank storage company. We store vital products with
care. With over 400 years of history and a focus on sustainability,
we ensure safe, clean and efficient storage and handling of bulk
liquid products and gases for our customers. By doing so, we enable
the delivery of products that are vital to our economy and daily
lives, ranging from chemicals, oils, gases and LNG to biofuels and
vegoils. We are determined to develop key infrastructure solutions
for the world’s changing energy systems, while simultaneously
investing in digitalization and innovation. Vopak is listed on the
Euronext Amsterdam and is headquartered in Rotterdam, the
Netherlands. For more information, please visit vopak.comThis press
release contains inside information as meant in clause 7 of the
Market Abuse Regulation.For further information please
contact:
Vopak Press Liesbeth Lans, Manager External
Communication, Telephone : +31 (0)10 4002777, e-mail:
global.communication@vopak.comVopak Analysts and investors
Laurens de Graaf, Head of Investor Relations Telephone : +31 (0)10
4002776, e-mail: investor.relations@vopak.com
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