Vopak has sold all shares in Vopak Terminal Algeciras after acquiring to 20% of shares held by minority shareholder Vilma Oil.
Once the transaction, valued at €125 million, is complete, it is expected to generate a net pre-tax cash inflow for Vopak of €120 million at completion. The total expected exceptional gain before taxation will be around €10 million.
The news follows the sale of Vopak's terminals in Hamburg and Amsterdam to First State, which have been rebranded to Evos Hamburg and Evos Amsterdam respectively.
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