Vopak sells European petroleum terminals for 723 million eurosChristian Fernsby ▼ | April 5, 2019
Royal Vopak announces that it has reached agreement on the sale of its terminals in Algeciras, Amsterdam and Hamburg.
Acquisition The combined operational capacity of the three terminals is 2,288,000 cbm
The combined operational capacity of the three terminals is 2,288,000 cbm.
The total agreed transaction value of the terminals is EUR 723 million, including a contingent consideration of EUR 15 million, which is subject to certain revenue conditions.
The transaction is expected to generate a net pre-tax cash inflow for Vopak of approximately EUR 670 million at completion in 2019.
The total expected exceptional gain before taxation will be around EUR 200 million, to be recorded in the second half of 2019. ■