The VTTI Energy Partners LP shareholders have agreed to a planned merger with VTTI B.V., a deal that was put on the table back in Marcg due to the company trading below expectation.
Approximately 98.75% of the Partnership’s common units and 100% of the Partnership’s subordinated units voted at the special meeting voted in favour of the adoption and approval of the merger.
The votes in favour constituted a majority of the Partnership’s common units, other than common units held by VTTI MLP Partners B.V. and by Stichting Administratiekantoor VTTI that do not correspond to a vested depositary receipt issued to an employee, consultant or director of VTTI or its affiliates, and a majority of the VTTI subordinated units outstanding as of the record date of the special meeting, as required for adoption and approval of the Merger Agreement.
The merger is expected to close on Friday (September 15).
VTTI Energy Partners LP is a fee-based limited partnership, formed to own, operate, develop and acquire refined petroleum product and crude oil terminaling and related energy infrastructure assets on a global scale. The Partnership’s assets include interests in a broad-based portfolio of six terminals that are strategically located in energy hubs throughout the world with a combined total storage capacity of 36 million barrels.
VTTI B.V. is a fee-based, growth-oriented business formed to own, operate, develop and acquire refined petroleum product and crude oil terminaling and related energy infrastructure assets on a global scale. VTTI’s assets include interests in a broad-based portfolio of terminals that are strategically located throughout the world with a combined total storage capacity of 57 million barrels.
For more information visit www.vtti.com
13th Sept 2017
