Glencore plc has completed the sale of a 51% interest in HG Storage International Limited (HGSI) to HNA Innovation Finance Group Co., Limited (HNA), after the transaction was announced in March last year.  

HGSI is a new vehicle which has consolidated Glencore’s petroleum products storage and logistics businesses into a global portfolio of high-calibre assets, located in strategic trading hubs across Europe, Africa, the Middle East and the Americas. 

Glencore and HNA have also entered into a second agreement which will see three of the original transaction assets located in the U.S. being transferred into HGSI in 2018.

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3rd Jan 2018

3rd January 2018