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.
For more information visit www.glencore.com
3rd Jan 2018