The transaction is expected to complete in 4Q20, subject to customary closing conditions and regulatory approvals.
Through this transaction, a further 15 liquid product storage terminals will be added to CLH’s current network.
The Chairman of CLH, José Luis López de Silanes, stated that “this agreement represents a unique opportunity to continue the company’s international expansion and consolidate its presence in the European market”.
CLH’s CEO, Jorge Lanza, added that “this transaction will expand CLH’s knowledge on chemical products and biofuel storage by gaining the experience of a European leader in these business segments. It is also in line with CLH’s strategy of diversification beyond hydrocarbons in response to the challenges of climate change.”
"CLH is acquiring a high-quality business with an outstanding team who have made an important contribution to the success and growth of Inter Pipeline over the past 15-years," stated Christian Bayle, President and CEO of Inter Pipeline.
The 11 UK terminals included in the agreement have a capacity of more than 2 million m3 and can store a wide range of liquid products related to a number of supply chains including diverse chemical products, as well as traditional fuels and biofuels.
In addition, the agreement also includes one terminal in Ireland, where CLH already operates at the Dublin airport through its subsidiary CLH Aviation Ireland, plus two more in Germany and one in the Netherlands.
Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/23092020/clh-acquires-15-liquid-product-storage-terminals-in-europe/