Inter Terminals to acquire NuStar’s liquid storage business
Published by Alex Hithersay,
Editorial Assistant
Tanks and Terminals,
Inter Pipeline Ltd has announced that its European storage subsidiary, Inter Terminals Ltd, has entered into an agreement to acquire 100% of the issued share capital of NuStar Energy LP’s European bulk liquid storage business (NuStar Europe) for cash consideration of US$270 million.
The transaction is expected to close in 4Q18 and is subject to customary closing conditions.
NuStar Europe consists of seven coastal terminals totalling 9.1 million bbls of storage. One terminal is located in Amsterdam, the Netherlands with the remaining facilities located in the UK near London, Runcorn, Eastham, Grangemouth, Clydebank and Belfast.
Read the article online at: https://www.tanksterminals.com/terminals/31102018/inter-terminals-to-acquire-nustars-liquid-storage-business/
You might also like
Hydrocarbon Engineering Podcast
Peter Davidson, CEO of the Tank Storage Association (TSA), joins us to discuss the essential role that the tank storage sector has to play in ensuring supply security and resilience, as well as in facilitating the energy transition.
Exolum invests €50 million into Barcelonan airport fuel infrastructure
Exolum has made plans to invest over €50 million in improving storage and distribution infrastructure for aviation fuel at Barcelona-El Prat Airport, Spain.