April 5, 2019 / 5:40 AM / 3 months ago

Vopak to sell 3 terminals to First State for 723 mln euros

AMSTERDAM, April 5 (Reuters) - Vopak, the Dutch oil and chemicals storage company, said on Friday it had agreed to sell 3 terminals to First State Investments for 723 million euros ($812 million).

Vopak started a strategic review of the terminals in Amsterdam, Hamburg and Algeciras, with a combined capacity of 2,288,000 cbm, in August. The buyer is the international investment arm of Australian asset manager Colonial First State Global Asset Management.

Vopak is focusing its resources on expanding capacity in Rotterdam and Antwerp, while First State said the purchase was in line with its infrastructure investment strategy. ($1 = 0.8907 euros) (Reporting by Toby Sterling; Editing by Subhranshu Sahu)

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