Bulk liquid storage and handling company Quantem is being tipped as the most likely buyer of Vopak’s Australian fuel terminals, which are thought to have an asking price of at least $750m.
Dutch multinational Vopak issued a press release indicating it was investigating strategic options for its terminals in Australia. This includes the possibility of a sale.
Investment bank JP Morgan has been hired to test buyer interest for the assets.
Vopak owns a large petroleum import and distribution terminal at Berrimah in Darwin consisting of 21 tanks and 173,583 cubic square metres (cbm) in capacity.
It also owns a large-scale independent petroleum import and distribution terminal at Port Botany in Sydney, consisting of 29 tanks that have capacity of and 371,650 cbm to handle petroleum, diesel, ethanol and bitumen products.
The terminals generate annual earnings before interest, tax, depreciation, and amortisation of $75m.
Globally, Vopak has a network of terminals and handles products ranging from chemicals, oil, gases and LNG to biofuels and vegetable oils. The company is now trying to position itself to create key infrastructure for the shift internationally towards cleaner fuels.
Quantem has bulk liquid storage terminals in Australia and New Zealand and is considered the most logical owner. It owns ANZ Terminals and GrainCorp Liquid Terminals.
For more information visit www.vopak.com
