The transaction comprises BP’s storage terminal with a total capacity of around 200.000 cubic meters, a tank truck loading facility and a jetty, directly adjacent to one of Koole Terminals’ existing sites in Rotterdam. The site is connected through a pipeline with BP’s refinery in Europoort and BP will partly lease back the storage and truck loading rack capacity under long-term agreements.

The sale does not affect the personnel. The sixteen employees involved will remain with BP’s refinery in Europoort or will be allocated to the new owner. This has been discussed in consultation with the works council and the trade unions.

Emilio Marin, Director of the BP Raffinaderij Rotterdam: “We are very pleased with the transaction; it allows the refinery to continue pursuing its strategic vision, which is to focus on the activities in the Europoort refinery as margins are currently under pressure in the European market.”

John Kraakman, CEO of Koole Terminals: “The expansion of Koole Terminals through the acquisition of BP’s site in Pernis is in line with our ongoing strategy to grow together with our customers, in this case regarding storage and distribution of petrol and diesel. Especially the safe and efficient 24-hours per day truck-loading facility in the Rotterdam harbour represents an important widening of our service offering. We are not only acquiring additional storage capacity but also further available land supporting our future expansion plans. Overall, the transaction substantiates our long-standing relationship with BP.”

Closing is expected to take place in July 2015.