Roth and VARO Energy (VARO) have announced an agreement to transfer the storage terminal Hanau in an asset deal from VARO Energy TankstorageGmbH (formerly Petrotank) to Adolf Roth GmbH & Co. KG.
The terminal, which opened in 1961 and has a total capacity of 9700 m3, is used for heating oil and diesel. This transaction complements Roth’s geographical positioning and optimises the utilisation of the terminal’s capacity. For VARO, the divesting of this asset is part of the ongoing development of the company’s portfolio.
The transfer of the terminal to Adolf Roth GmbH is scheduled for 1 February 2017. Further terms of the transaction were not disclosed.
Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/05012017/varo-energy-selling-terminal/