Buckeye Partners acquires 50% of VTTI, a Vitol Group Company
Further to the release of 24 October 2016, in which VTTI BV, VTTI Energy Partners LP, NYSE: VTTI (together “VTTI”) and Vitol stated that Buckeye Partners, L.P. (“Buckeye”) had signed a definitive agreement to acquire a 50 percent equity interest in the holding company of VTTI, we today announce that the transaction has been completed. The joint shareholding of Buckeye and Vitol will add greater strategic value to VTTI and will further strengthen VTTI’s position as a leading independent provider of energy storage solutions.
About VTTI BV
VTTI BV is a fee-based, growth-oriented business formed to own, operate, develop and acquire refined petroleum product and crude oil terminalling and related energy infrastructure assets on global scale. VTTI BV’s assets include interests in a broad-based portfolio of terminals that are strategically located throughout the world with a combined total storage capacity of 54 million barrels including assets under construction. On 1 August 2014, VTTI Energy Partners LP began trading on the New York Stock Exchange as a master limited partnership (MLP). For further information vtti.com.
Vitol is an energy and commodities company; its primary business is the trading and distribution of energy products globally – it trades over 6mbpd of crude oil and products and, at any time, has 200 ships transporting its cargoes.
Vitol’s clients include national oil companies, multinationals, leading industrial and chemical companies and the world’s largest airlines. Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including; circa 15.5mm3 of storage across six continents, 390kbpd of refining capacity and Shell-branded downstream businesses in 16 African countries, as well as Australia. Revenues in 2015 were $168 billion. For further information: vitol.com.
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