Vopak: completes sale of Algesiras terminal
(CercleFinance.com) - Vopak has announced that it has completed the sale of the Algesiras oil terminal to First State Investments, in accordance with the agreement concluded in April 2019.
This sale therefore comes in addition to those of the Amsterdam and Hamburg terminals, which were finalised at the end of September 2019.
Note that the transaction value of these three terminals reaches 723 million euros. The sale is expected to generate a net pre-tax cash flow of approximately 670 million dollars for Vopak, and an exceptional pre-tax gain of approximately 200 million dollars.
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This sale therefore comes in addition to those of the Amsterdam and Hamburg terminals, which were finalised at the end of September 2019.
Note that the transaction value of these three terminals reaches 723 million euros. The sale is expected to generate a net pre-tax cash flow of approximately 670 million dollars for Vopak, and an exceptional pre-tax gain of approximately 200 million dollars.
Copyright (c) 2020 CercleFinance.com. All rights reserved.