• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

Inter Pipeline to sell majority of European bulk liquid unit for $538 million

September 22, 20201:51 AM Reuters0 Comments

Inter Pipeline Ltd said on Tuesday it will sell a major portion of its European bulk liquid storage business to Spain-based CLH Group for 420 million pounds ($537.73 million).

The pipeline operator had halted the sale in March, stating potential buyers of the business had been significantly affected by the COVID-19 pandemic and that it was not the right time to pursue a major pan-European transaction.

The sale includes all of Inter’s bulk liquid storage and handling assets in the UK, Ireland, the Netherlands and Germany, totaling 15 storage terminals and about 18 million barrels of storage capacity.

Proceeds from the sale will be used to cut debt, improve the balance sheet and help with Inter’s spending plans, including on its Heartland Petrochemical Complex in Alberta, the company said.

After the close of the deal, expected in fourth quarter, Inter will retain its 8 terminals in Sweden and Denmark comprising about 19 million barrels of aggregate storage capacity.

29dk2902l

Inter Pipeline

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • As debate rages over cross-border pipelines, U.S. analysts brace for more oil by rail
  • Innovus convertible frac sleeves deliver impressive bullhead injection distribution in Viking waterflood
  • Volunteering opportunity: Geoscience BC Geothermal Technical Advisory Committee
  • Spartan Delta Corp. announces completion of $45 million bought deal financing
  • Tamarack Valley Energy announces update on strategic acquisition

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView





    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2021 Grobes Media Inc.