28 April 2011 09:02 [Source: ICIS news]
SINGAPORE (ICIS)--Dutch company Vopak has sold its 50% equity stake in Interstream Barging (Interstream) to North Sea Group Netherlands, Vopak said in a statement on Thursday.
The core activities of Interstream are to supply depots, inter-refinery transport and international transport of mineral oil products and chemicals by inland vessel in western Europe, said Vopak.
These activities have a limited strategic fit with Vopak’s global terminal network strategy which is focused on owning and operating marine-based tank storage terminals in key logistics locations, Vopak added.
North Sea Group will become a 100% shareholder of Interstream after the transaction, which took place at book value, according to the statement.
The closing of the transaction remains subject to the approval of the Dutch competition authority, the statement added.
North Sea Group is involved in the international bunkering, logistics, sales and trade of oil products and biofuels.
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