Listed Canada-based Inter Pipeline Ltd. has entered into a definitive agreement to divest the majority of its European bulk liquid storage business to the CLH Group.
Proceeds from the transaction will be EUR 455m (DKK 3.4bn) before customary closing adjustments. The transaction is expected to be completed in the fourth quarter of 2020, subject to the satisfaction of closing conditions and regulatory approvals.
Inter Pipeline Ltd. is a major petroleum transportation, natural gas liquids processing, and bulk liquid storage business based in Calgary, Alberta, Canada. Inter Pipeline Ltd. owns and operates energy infrastructure assets in western Canada and Europe. The company is listed on the Toronto Stock Exchange.
The CLH Group is a leading bulk liquid product logistics company in Europe.
Accura assisted Inter Pipeline Ltd. with the sale process and the subsequent restructuring and carve-out of certain Danish legal entities as part of the future Nordic operation. Inter Pipeline Ltd. will retain eight terminals in Sweden and Denmark comprising approximately 19 million barrels of aggregate storage capacity.