01.04.16. Royal Vopak has completed the sale of its UK terminals, comprising of Vopak Terminal London, Vopak Terminal Teesside and Vopak Terminal Windmill.
This transaction follows the earlier announced completion of the sale of Vopak’s share in Thames Oilport. The sale of all Vopak’s UK assets to, respectively, Macquarie Capital and Greenergy is now complete.
The cash and debt free enterprise value of the total divestment of all Vopak’s assets in the UK amounts to £335 million and the transaction generates an aggregate net cash inflow in excess of £300 million. From a financial reporting perspective, the total exceptional gain will exceed £200 million. The currency exposure of the divestment has been hedged to the Euro.
The 2016 financial effects will be included in the first quarter interim update.
1st April 2016
