Inter Pipeline Acquires Four Danish Storage Terminals

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
459MM
Description

Acquired four petroleum storage terminals in Denmark, gaining 10.7 MMBO storage.

Inter Pipeline Fund, Calgary, (Toronto: IPL-UN) has acquired four petroleum storage terminals in Denmark from a subsidiary of Fredericia, Denmark-based DONG Energy A/S for $459 million plus closing adjustments.

The deal adds 10.7 million barrels of petroleum storage to Inter Pipeline's European storage operations. Inter Pipeline is now the fourth largest provider of independent bulk liquid storage services in Europe with total capacity of approximately 19 million barrels.

Inter Pipeline funded the deal with its recently renewed bank credit facility. The four Danish terminals will carry on business as Inter Terminals and will be operated by a wholly owned subsidiary of Inter Pipeline.