Vitol has agreed to acquire an 85 000 bpd condensate splitter from Koch Supply & Trading BV for an undisclosed fee.
The deal is subject to the relevant regulatory approvals.
Russell Hardy, CEO EMEA Vitol, said: “The splitter is a well-run asset in a good strategic location at the heart of Rotterdam’s oil and petchem industry. Its acquisition will enhance our offering to our customers across the region.”
Frans Pettinga, President, Koch Supply & Trading, added: “We are pleased to have reached this agreement with Vitol. We believe this transaction will allow us to focus our capital and capabilities in areas where we see the best alignment with our global trading strategy.”
Vitol confirmed that its subsidiary, Vitol Refining Group BV, will acquire the asset. Staff based at the asset will transfer to Vitol.
Simmons & Company International, Energy Specialists of Piper Jaffray, served as exclusive financial advisor to Koch Supply & Trading in connection with the transaction.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/03052017/vitol-to-acquire-condensate-splitter/