Unveiled in April this year, the transaction involving the
terminals in Amsterdam and Hamburg is worth about EUR 600 million (USD 655.5
The move is said to be in line with Vopak’s strategy focused
on industrial, chemical and gas terminals as well as strengthening its position
in Rotterdam and Antwerp.
At completion, the transaction generates a cash inflow for
Vopak of approximately EUR 555 million. The total exceptional gain after
taxation will be around EUR 190 million, to be recorded in the third quarter of
2019, according to the company.
With regards to the terminal in Algeciras, Vopak said it is
in discussion with the current minority shareholder in this terminal to dispose
of its 80% share interest.
The stake in the 403,000 cbm facility would be sold for the
same purchase price and terms and conditions as agreed with First State
Investments, Vopak added.