Potential Sale of Inter Terminals Being Explored
08.19.2019 By Ricardo Perez - NEWS

August 19, 2019 [Tank News International] – Inter Pipeline has announced it is exploring the potential sale of Inter Terminals, its European bulk liquid storage business.

 
Should a sale be completed, proceeds could be used to reduce outstanding debt and finance Inter Pipeline’s capital expenditure program, including the Heartland Petrochemical Complex.
 
Inter Terminals is a high-quality business with outstanding management and staff. It has made an important contribution to the success and growth of Inter Pipeline over the past 14-years,” said Christian Bayle, President and Chief Executive Officer of Inter Pipeline.
 
Our decision to explore alternatives is consistent with Inter Pipeline’s practice of making prudent long-term portfolio management decisions particularly in light of our organic growth initiatives.
 
Inter Terminals is one of the largest independent bulk liquid storage businesses in Europe with operations in the United Kingdom, Denmark, Sweden, Germany, Netherlands and Ireland. Inter Terminals has approximately 37 million barrels of storage capacity across 23 terminals. These storage terminals are long life infrastructure assets that are strategically located close to established global market hubs, product delivery channels, refineries and chemical production facilities.
 
This process is not expected to have an impact on Inter Terminals operations which are continuing in the ordinary course, the company said in a statement. Inter Pipeline has not established a definitive timeline to complete this process and there is no assurance that a transaction will result from it. Inter Pipeline does not intend to comment further with respect to this process unless and until it determines that additional disclosure is appropriate in the circumstances and in accordance with the requirements of applicable securities laws.

 
————-
 

Click Here to Access Today a 4,900 Tank Terminal Database With a Pro Trial
Click on the button and register to get instant access to actionable tank storage industry data

India's First Methanol Plant to be Set up in Telangana
11.21.2024 - NEWS
November 21, 2024 [Chem Analyst]- In a groundbreaking initiative, India is set to get its first m... Read More
Egypt in Talks with Foreign Companies Over Long-Term LNG Purchases, Sources Say
11.21.2024 - NEWS
November 21, 2024 [Reuters]- Egypt is in talks with U.S. and other foreign companies to purchase ... Read More
INEOS and GNFC Sign a Memorandum of Understanding to Build a New World Scale Acetic Acid Unit in India
11.21.2024 - NEWS
November 21, 2024 [INEOS]- INEOS Acetyls and Gujarat Narmada Valley Fertilizers & Chemicals L... Read More
Peru's State Oil Firm Could Open to Private Investors in 2025, Chairman says
11.21.2024 - NEWS
November 21, 2024 [Reuters]- Peru’s indebted state-run oil firm could consider offering a ... Read More