Vopak and Exmar sign agreement on FSRU transaction
Post# of 301275
Rotterdam, The Netherlands, 21 December 2016 Following the announcement on 2 September 2016 that Vopak and Exmar had started exploratory discussions on floating LNG storage and regasification, an important milestone has been reached being the signing of an agreement on the acquisition of the FSRU business of Exmar by Vopak and the possible cooperation between Vopak and Exmar in future projects.
The agreement on the acquisition envisages the transfer in stages of Exmar's participation in FSRU assets, FSRU projects under development and a corresponding part of the Exmar organisation.
The finalization of the deal is subject to consent and cooperation of multiple stakeholders including current partners in the FSRU's and customary approval from authorities. Subsequently, the ultimate scope of the transaction is dependent on the outcome of this process. As the outcome of the scope and the timing of the completion of the acquisition is currently unknown, no further details are disclosed. Material updates will be communicated via press releases.
This press release contains inside information as meant in clause 7 of the Market Abuse Regulation.
Link related press release 2 September 2016.
Profile Royal Vopak Royal Vopak is the world's leading independent tank storage provider for the oil and chemical industry. As of 21 December 2016, Vopak operates 67 terminals in 25 countries with a combined storage capacity of 34.7 million cbm, with another 3.4 million cbm under development, to be added before the end of 2019 . Vopak's mission is to provide safe, efficient and clean storage and handling services of bulk liquid products and gases at key marine locations that are critical to its customers around the world. The majority of its customers are companies operating in the oil, chemicals and gas sector, for which Vopak stores a large variety of products destined for a wide range of industries. Vopak's strategic focus is on four categories of terminals: Major hubs supporting intercontinental products flows, Terminals facilitating growth in global gas markets, Import distribution terminals in major markets with structural deficits, Industrial and chemicals terminals in the Americas, the Middle East and Asia.
Profile Exmar NV Exmar NV, with its headquarters in Antwerp, is a leading independent owner and operator of LNG/LPG Carriers and of industrial, marine and logistical solutions covering the processing, handling, liquefaction, transport and regasification of gas for the benefit of clients active in the energy, power and industry sectors. Exmar has a diversified fleet of ships/assets, including gas transportation and storage solutions and several offshore assets. Having over three decades of experience in the shipping and handling of cryogenic gases, Exmar maintains a high leadership profile with the industry's largest players through successful operations and continuous innovation.
For more information regarding Vopak please contact:
Press Liesbeth Lans, Manager External Communication, Telephone : +31 (0)10 4002777, e-mail: global.communication@vopak.com
Analysts and investors Chiel Rietvelt, Head of Investor Relations, Telephone : +31 (0)10 4002776, e-mail: investor.relations@vopak.com
For more information regarding Exmar please contact: Miguel de Potter, CFO Telephone: +32 3 247 56 70 www.exmar.be
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