Vopak has completed the divestment of its terminals in Amsterdam and Hamburg to First State Investments for around €600 million, including a contingent consideration of €15 million.
At completion, the transaction generates a cash inflow for Vopak of approximately €555 million. The total exceptional gain after taxation will be around €190 million, to be recorded in the third quarter of 2019.
For the divestment of the terminal in Algeciras, Vopak is currently in discussion with the current minority shareholder in this terminal, for the sale of our 80 per cent share interest for the same purchase price and terms and conditions as agreed with First State Investments.
At the completion of the transaction of the terminal in Algeciras, the use of the total sales proceeds will be announced in line with the strategy and financial framework as presented at the Vopak Capital Markets Day November 27, 2018.
For more information visit www.vopak.com