News

Global Ports announces sale of its stake in oil products terminal

Global Ports Investments PLC (Global Ports, and together with its subsidiaries and joint ventures, “the Group”), (LSE ticker: GLPR) today announces that it and Royal Vopak, the world’s largest independent tank storage provider, have sold their 100% effective share ownership in AS Vopak E.O.S. (VEOS), to Liwathon. VEOS was a 50/50 joint venture of Global Ports and Royal Vopak. The parties agreed not to disclose the price of the transaction.

The decision to sell VEOS was driven by the Group’s strategic focus on opportunities in its core business where the Group sees attractive long-term prospects for itself. The divestment will enable the Group to designate more funds to ongoing deleveraging and to continue developing additional revenue streams.

About AS Vopak E.O.S.

AS Vopak E.O.S., an independent oil products terminal operator in the Baltic states, operates four modern terminals with the total storage capacity of 1,051,800 cbm located in the ice-free Port of Muuga within the Port of Tallinn.

For more details please see the Company’s web-site.

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