Vitol has announced that Vitol Investment Partnership II Ltd (VIP), an investment vehicle sponsored and managed by Vitol, and IFM Investors (IFM), a global institutional funds manager, have completed the acquisition of Buckeye Partners LP’s 50% equity interest in VTTI BV, the leading global independent provider of energy storage.
VTTI is now owned 50% by IFM and 50% by Vitol and VIP. It will continue to be managed by an independent management team led by Rob Nijst, CEO.