Royal Vopak divest oil terminal in Algeciras
Royal Vopak has concluded the discussions with the minority shareholder in Vopak Terminal Algeciras and has acquired the 20% of the shares held by Vilma Oil. Vopak has an agreement with First State Investments for the sale of 100% of the shares in Vopak Terminal Algeciras.
The total transaction value agreed with First State Investments for 100% of the shares in the terminal is EUR125 million (US$137.583 million) and the transaction is expected to generate a net pre-tax cash inflow for Vopak of approximately EUR120 million (US$132.080 million) at completion. The total expected exceptional gain before taxation will be around EUR10 million (US$11 million).
The completion of this transaction is subject to customary closing conditions.
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