Vopak increases its stake in Singapore to 66%
Koninklijke Vopak N.V. (Royal Vopak) announces that it has increased its 59% stake in Van Ommeren Tank Terminal Singapore Pte Ltd by 7% to 66%. Together with PSA Corporation Limited, Vopak acquired Intraco Pte Limited’s 10% shareholding. As a result, PSA’s interest in Van Ommeren Tank Terminal Singapore Pte Ltd has risen from 26 to 29%.
Vopak paid an amount of some SGD 22 million (approximately EUR 12.5 million) for this shareholding. This acquisition will immediately provide a positive contribution to the 1999 net profit.
Profile of Vopak
Vopak offers logistics and distribution services to the chemical and oil industries and end-users of chemicals throughout the world. With its global logistics network of terminals, tankers and tank containers, a distribution network of warehouses, customers and end users in North America and Europe, Vopak is uniquely positioned to become the link between the producer and end-user of chemicals and oil products.
For further information, please contact:
Jet van Beusekom-Eikenaar
Telephone : +31 10 464 2616
E-mail : [email protected]
