Vopak: divestments finalised in Amsterdam and Hamburg
(CercleFinance.com) - Vopak, a Dutch group that is specialised in tank storage, has announced the finalisation of the sale of Amsterdam and Hamburg terminals to First State Investments, completing a deal that was announced on 5 April.
The transaction values the assets sold at around 600 million euros, including a contingent sum of 15 million euros subject to certain conditions of revenues, and will generate an extraordinary post-tax capital gain of about 190 million euros in Q3 for Vopak.
The sale of the Algesiras terminal is currently being discussed with the current minority partner, regarding Vopak's 80% stake at the same prices, terms and conditions as those in the deal with First State Investments.
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The transaction values the assets sold at around 600 million euros, including a contingent sum of 15 million euros subject to certain conditions of revenues, and will generate an extraordinary post-tax capital gain of about 190 million euros in Q3 for Vopak.
The sale of the Algesiras terminal is currently being discussed with the current minority partner, regarding Vopak's 80% stake at the same prices, terms and conditions as those in the deal with First State Investments.
Copyright (c) 2019 CercleFinance.com. All rights reserved.