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Royal Vopak: Update divestment terminal in Algeciras
Rotterdam, the Netherlands, 9 October 2019
Today, 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.
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.com
This press release contains inside information as meant in clause 7 of the Market Abuse Regulation.
For further information please contact:
Liesbeth Lans, Manager External Communication,
Telephone : +31 (0)10 4002777, e-mail: email@example.com
Vopak Analysts and investors
Laurens de Graaf, Head of Investor Relations
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