At a ceremony in Beijing, the Sale and Purchase Agreement was signed by Mr. Anton Klomp, Chief Executive Officer of Vesta Terminals and the Managing Director of Sinopec Kantons, in the presence of Mr. Paul Chivers, Group Head of Corporate Development, Mercuria and senior members of the Sinopec Group including the Deputy General Director of the Foreign Co-operation Office.

Vesta Terminals is a leading independent liquid bulk storage operator in Europe with a total of approximately 1.6 million cubic meters of petroleum products and biofuels capacity at three terminals in Antwerp, Flushing and Tallinn. Following transaction completion, which is subject to certain conditions precedent including satisfaction of relevant regulatory processes, Vesta Terminals will continue to provide storage services to existing and new third party customers alongside its new shareholders.

The partnership envisages the further expansion of Vesta Terminals’ existing sites and the joint development of international projects.

Paul Chivers said “This transaction further underlines the significance Mercuria places on our relationships in China and the close international co-operation of Mercuria with the Sinopec Kantons group. Sinopec Kantons is an outstanding partner for Vesta Terminals and we see many exciting opportunities to jointly develop this business. The entry of Sinomart as a major shareholder in Vesta Terminals strongly supports Mercuria’s strategic plans for the future, and for Vesta Terminals’ employees and customers it represents a strong vote of confidence in the business”.

Commenting on the transaction, Sinopec Kantons Group said “We sincerely hope that this project, in bringing the joint venture partners together, will achieve our common goal and maintain a win-win relationship in the future”.

Bank of America Merrill Lynch were financial advisors to Mercuria on this transaction.