VTTI Energy Partners LP acquired an additional 6.6% economic interest in VTTI MLP BV (VTTI Operating) for $75 million, the company said July 1. The VTTI Operating interest was acquired from VTTI MLP Partners BV, and the effective date is July 1.

A loan from VTTI BV financed the deal. VTTI indirectly owns a total economic interest of 42.6% and a 51.0% indirect voting interest in VTTI Operating.

The additional economic interests will likely be accretive to the company’s distributable cash flow, VTTI said. They also fulfill the strategy to complete the first dropdown transaction within a year of the IPO, VTTI added.

The board of directors of the general partner approved the terms, VTTI said, based on the conflicts committee’s approval and recommendation

The committee of independent directors was Evercore was the financial adviser for the committee of independent directors, and Bracewell & Giuliani LLP was its legal adviser.

VTTI Energy Partners LP owns, operates, develops and acquires refined petroleum product and crude oil terminaling assets. It is based in the Netherlands.