Battolyser Systems raises EUR 30m in Series A funding round
Sep 12, 2024 11:35 CESTDutch oil storage firm Vopak (AMS:VPK) said on Monday it had agreed to sell all of its UK assets to Macquarie Capital and UK fuel supplier Greenergy.
The transaction is based on a cash and debt free enterprise value of GBP 335 million (USD 498.7m/EUR 456.8m) and is expected to generate a net cash inflow of about GBP 300 million.The total exceptional gain will be around GBP 200 million and will be booked in 2016.
Under the terms of the agreement, Macquarie Capital will buy Vopak's three wholly-owned terminals: Vopak Terminal London, Vopak Terminal Teesside and Vopak Terminal Windmill, and rename them Navigator Terminals.
The terminals have a combined operational capacity of some 700,000 cu m (2.47m cu ft).
Greenergy will acquire Vopak Holding UK, comprising Vopak`s 33.3% investment in the joint venture Thames Oilport, former Coryton refinery, which is still under development.
Vopak will use the proceeds from the transaction to further strengthen its flexibility to implement its growth plans and to support its dividend policy, while maintaining a robust financial position, the company said.
(GBP 1.0 = USD 1.489/EUR 1.364)
Battolyser Systems raises EUR 30m in Series A funding round
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