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Inter Terminals to acquire NuStar’s liquid storage business

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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.

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