Royal Vopak divested its ownership in Japanese terminals
Published by Angharad Lock,
Digital Assistant Editor
Hydrocarbon Engineering,
Royal Vopak has announced that it has divested its 40% ownership in the joint venture Nippon Vopak Co. Ltd. to Macquarie Asia Infrastructure Fund. Nippon Vopak owns and operates five terminals in Japan with a combined operational capacity of 203 200 m3.
This divestment is in line with the outcome of Vopak's business review. As part of this review, Vopak announced, amongst others, its decision to divest around 15 primarily smaller terminals.
The agreed net cash proceeds, based on the debt-free enterprise value of the divested ownership, amounts to approximately €26 million (after capital gains tax).
The proceeds from this transaction will be used to further strengthen Vopak's flexibility to execute its selective capital disciplined growth strategy and to support its consistent dividend policy, while maintaining a robust financial position.
Edited from press release by Angharad Lock
Read the article online at: https://www.hydrocarbonengineering.com/refining/31052016/royal-vopak-divested-its-ownership-in-japanese-terminals-671/
You might also like
Hydrocarbon Engineering Podcast
Susan Bell, Senior Vice President within Commodity Markets – Oil, Rystad Energy, discusses the impact of trade wars on global oil demand and oil prices, in light of President Trump’s ‘Liberation Day’ tariffs.
Materials and Solutions for Hydrogen and the World’s Toughest Conditions
As the global transition to clean energy accelerates, Greene Tweed engineers are developing and testing advanced materials to overcome the challenges faced by companies pursuing sustainability goals. This article focuses on four key areas where innovation in material science is driving progress.
