Vopak and BlackRock's GEPIF to acquire three industrial terminals from Dow on the U.S. Gulf Coast
14 Settembre 2020 - 7:00AM
Vopak and BlackRock's GEPIF to acquire three industrial terminals
from Dow on the U.S. Gulf Coast
Dow has selected a new 50/50 joint venture of Royal Vopak and
BlackRock's Global Energy & Power Infrastructure Fund to
acquire three major industrial terminals on the U.S. Gulf Coast for
the amount of USD 620 million. The name of the new joint venture is
Vopak Industrial Infrastructure Americas, LLC, which will have a
diversified set of infrastructure assets, in three locations, with
each situated alongside an active Dow production complex.
Vopak Industrial Infrastructure Americas will enter into
long-term service agreements with Dow, for storage and
infrastructure services. Dow expects Vopak's terminal expertise and
capabilities will deliver additional operational efficiencies and
opportunities for growth.
The total capacity of the three terminals is 852,000 cubic
meters (cbm). The Freeport, Texas, terminal has 53 tanks (140,000
cbm) for storage of chemicals. The St. Charles, Louisiana, terminal
has 73 total tanks (409,000 cbm) for storage of chemicals. The
Plaquemine, Louisiana, terminal has 30 tanks (303,000 cbm) for
storage of chemicals and refined products. The involved assets
include 16.4 hectares of expansion land, 36 vessel berths, multiple
pipeline connections, rail and truck racks.Vopak Industrial
Infrastructure Americas and Dow are working closely to ensure a
seamless transition. The transaction is expected to be closed
before year end 2020, subject to customary closing conditions."We
are excited for the opportunity to serve Dow via these industrial
terminals in a safe, sustainable and efficient way. We are
dedicated to contributing to the long term success of Dow's U.S.
Gulf Coast business," said Eelco Hoekstra, Chairman of the
Executive Board and CEO of Royal Vopak. "This unique expansion
opportunity, in which we partner with the leading global investment
experts of BlackRock, fits perfectly into Vopak's growth strategy
for industrial terminals. We are very proud of our expertise and
long track record of storing vital products with care for our
customers and our drive to continue to invest."“We are extremely
proud to partner with Vopak, a best-in-class terminal operator, to
serve as a steward for this critical infrastructure,” said Mark
Florian, Managing Director and Head of BlackRock’s Global Energy
& Power Infrastructure team. “This investment is aligned with
our strategy to deliver value for our investors by investing in
high-quality and critical operating infrastructure assets that are
supported by long-term contracts to provide cash flow visibility
and partnering with industry leaders who are like-minded to help
grow these businesses while maintaining a strong culture of
safety."
ABOUT Vopak Royal Vopak is the world’s leading
independent tank storage company. We store vital products with
care. With over 400 years of history and a focus on sustainability,
we ensure safe, clean and efficient storage and handling of bulk
liquid products and gases for our customers. By doing so, we enable
the delivery of products that are vital to our economy and daily
lives, ranging from chemicals, oils, gases and LNG to biofuels and
vegoils. We are determined to develop key infrastructure solutions
for the world’s changing energy systems, while simultaneously
investing in digitalization and innovation. Vopak is listed on the
Euronext Amsterdam and is headquartered in Rotterdam, the
Netherlands. For more information, please visit www.vopak.com. This
press release contains inside information as meant in clause 7 of
the Market Abuse Regulation.ABOUT BLACKROCKBlackRock’s
purpose is to help more and more people experience financial
well-being. As a fiduciary to investors and a leading provider of
financial technology, our clients turn to us for the solutions they
need when planning for their most important goals. As of June 30,
2020, the firm managed approximately $7.32 trillion in assets on
behalf of investors worldwide. For additional information on
BlackRock, pleasevisit www.blackrock.com | Twitter: @blackrock |
Blog: www.blackrockblog.com | LinkedIn:
www.linkedin.com/company/blackrock. For further information
please contact: Vopak Press Liesbeth Lans, Manager
External Communication, Telephone : +31 (0)10 4002777, e-mail:
global.communication@vopak.comVopak analysts and investors
Laurens de Graaf, Head of Investor Relations Telephone : +31 (0)10
4002776, e-mail: investor.relations@vopak.com
BlackRockCurtis Chou, Corporate
Communications Telephone: +1 646-231-1031, e-mail:
curtis.chou@blackrock.com
- download full press release
Grafico Azioni Koninklijke Vopak (EU:VPK)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Koninklijke Vopak (EU:VPK)
Storico
Da Apr 2023 a Apr 2024