Vopak wraps up sale of British terminals

Dutch oil storage firm Vopak (AMS:VPK) said on Thursday it had completed the sale of its British terminals that was announced in December last year.

The transaction involves the sale of Vopak Terminal London, Vopak Terminal Teesside and Vopak Terminal Windmill, which were sold to Macquarie Capital.

Earlier, the company completed the sale of its 33.3% stake in the joint venture Thames Oilport, former Coryton refinery, which is still under development, to UK fuel supplier Greenergy.

The transactions are based on a total enterprise value of GBP 335 million (USD 480.1m/EUR 421m), generating a net cash inflow of over GBP 300 million. The total exceptional gain exceeds GBP 200 million and will be booked in the first quarter of 2016, Vopak said.

The disposals make an end of Vopak's activities in the UK.

(GBP 1.0 = USD 1.433/EUR 1.257)

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