Vopak to Sell Algeciras terminal to First State Investments

Following a strategic review of holdings, the Dutch company announced the sale of its terminals in Algeciras, Amsterdam and Hamburg to First State Investments in a transaction valued EUR 723 million. The three terminals have a combined operational capacity of 2,288,000 cbm and the agreement includes certain revenue conditions, with contingent consideration of EUR 15 million.
The divestment supports Vopak’s long-term strategic alignment focused on strengthen the position in the major clusters of Rotterdam and Antwerp.
On the other hand, Vopak will soon announce new projects to mantain its strategic position in various hub locations, as well as expand their portfolio of industrial, chemical and gas terminals.

First State Investments are the international investment unit of Colonial First State Global Asset Management, and the agreement with Vopak fits with their long-term infrastructure investment philosophy.