Oil terminal acquisition.(BAHAMAS)

0 Comments | Caribbean Update, June, 2008

Vopak and First Reserve Corp. on April 29 announced the acquisition of the Bahamas Oil Refining Co. oil storage terminal in Freeport, Bahamas. The equity value of the new company amounted to US$550 million, split 80%-20% between affiliates of First Reserve Fund XI, L.P. and Vopak, respectively.

The deal was partly financed by a senior secured credit facility underwritten by ABN AMRO Bank N.V. and DnB Nor Bank ASA. Full terms were not disclosed. Details: Koninklijke Vopak N.V. Corporate Communication & Investor Relations. Rolf Brouwer. Tel: 31 (0)10-4002777. E-mail: corporate. mkollar@cjpcom.com