Buckeye Partners LP has agreed to sell its 50 percent equity interest in VTTI BV, the leading global independent provider of energy storage to Vitol Investment Partnership II, an investment vehicle sponsored and managed by Vitol, and IFM Investors (IFM), a global institutional funds manager.
On completion, VTTI will be owned 50 percent by IFM and 50 percent by Vitol and VIP. It will continue to be managed by an independent management team led by Rob Nijst, CEO.
The transaction is subject to certain conditions precedent and is expected to close by year end.
For more information visit: www.vitol.com
6th November 2018