April 1, 2016 [Royal Vopak] - Today, Royal Vopak has completed the previously announced sale of its UK terminals, comprising of Vopak Terminal London, Vopak Terminal Teesside and Vopak Terminal Windmill.
In line with our press release of 19 December 2015, the cash and debt free enterprise value of the total divestment of all Vopak’s UK assets amounts to GBP 335 million and the transaction generates an aggregate net cash inflow in excess of GBP 300 million.
From a financial reporting perspective, the total exceptional gain will exceed GBP 200 million. The currency exposure of the divestment has been hedged to the Euro.
The 2016 financial effects, with respect to this transaction, will be included in the first quarter interim update which will be published on 20 April 2016.
For additional background information on this divestment we refer to our press release issued on 19 December 2015 and on 29 January 2016.
