Vopak and Exmar have released a joint statement confirming that Vopak will not be pursuing its proposed acquisition of Exmar's participation in floating storage regasification unit (FSRU) assets.
The two companies previously announced a conditional agreement on the deal in December 2016. Finalisation of the deal was subject to consent and cooperation of multiple stakeholders.
The joint statement said: “After careful consideration, Vopak and Exmar have concluded that these requirements will not be met on the envisaged transaction. Therefore the closing of the FRSU transaction between Vopak and Exmar will no longer be pursued.”
Read the article online at: https://www.tanksterminals.com/storage-tanks/27042017/vopak-and-exmar-cancel-fsru-deal/