Travers Smith has advised Royal Vopak on the pensions and employment aspects of Royal Vopak’s sale of all of its UK assets to Macquarie Capital and Greenergy. Macquarie Capital will acquire 100% of the shares of the three wholly-owned terminals: Vopak Terminal London, Vopak Terminal Teesside and Vopak Terminal Windmill, to become part of Navigator Terminals.
Greenergy will acquire Vopak Holding UK, comprising Vopak’s 33.3% investment in the joint venture Thames Oilport (former Coryton refinery). Both transactions are expected to be completed by the end of Q1 2016, subject to certain conditions.
Wouter Merks, Vopak HR Director stated "We are very pleased to have worked with Travers Smith on the pensions and employment aspects of this transaction. They have provided excellent support to us throughout the process and made a very valuable contribution to the success of the transaction".