Vopak has completed the divestment of its storage terminals in Amsterdam and Hamburg to First State Investments for €600 million.
The total agreed transaction includes a contingent consideration of $15 million, which is subject to certain revenue conditions. The transaction generates a cash inflow for Vopak of €55 million.
Vopak is currently in talks with the current minority shareholder of the Algeciras for the sale of its 80% share interest fore 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 company's strategy and financial framework.