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Vopak sells European petroleum terminals for 723 million euros

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Christian Fernsby ▼ | April 5, 2019
Royal Vopak announces that it has reached agreement on the sale of its terminals in Algeciras, Amsterdam and Hamburg.
Vopak
Acquisition   The combined operational capacity of the three terminals is 2,288,000 cbm
The transaction is subject to certain customary closing conditions and is expected to complete in the second half year of 2019.

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.


 

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