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October 1, 2019

Vopak sells Amsterdam and Hamburg terminals to First State Investments

Dutch tank storage company Royal Vopak has completed the sale of its terminals in Amsterdam and Hamburg to First State Investments for €600m.

Dutch tank storage company Royal Vopak has completed the sale of its terminals in Amsterdam and Hamburg to First State Investments for €600m.

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The divestment follows the company’s agreement with First State Investments on the sale in April.

The agreement also included the potential sale of its terminal in Algeciras.

The deal value includes a contingent consideration of €15m ($16.3m) dependent on certain revenue conditions.

Upon completion, a cash inflow of approximately €555m ($604m) for Vopak will be generated.

The decision to divest its terminals in Algeciras, Amsterdam and Hamburg after the company conducted a strategic review and tested its terminals’ market value.

Commenting on the sale of Algeciras terminal, the company said in a statement: “Vopak is currently in discussion with the current minority shareholder in this terminal, for the sale of our 80% share interest for the same purchase price and terms and conditions as agreed with First State Investments.”

Vopak has plans to use the total sales proceeds to allocate capital to growth opportunities and create shareholder value.

The company’s 2017-19 strategy execution includes focus on commercial efforts and cost management. It will also direct its efforts towards new business development and portfolio management, as well as digital investment programme.

Last month, Vopak acquired 49% shareholding in Sociedad Portuaria el Cayao in Cartagena, Colombia. The company, which started operations in 2016, is claimed to be the only LNG import facility in the country.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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