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VTTI Energy to buy additional stake in VTTI MLP; launches 5.25M-unit offering

Aug. 08, 2016 5:33 PM ETVTTI Energy Partners LP (VTTI) StockBy: Carl Surran, SA News Editor
  • VTTI Energy Partners (NYSE:VTTI+3.2% AH after agreeing to acquire an additional 8.4% equity interest in VTTI Operating and associated pro-rata net debt from VTTI MLP Partners, which owns the interests in the entities that own the partnership's terminal facilities, for $96.2M.
  • To help fund the deal, VTTI launches a public offering of 5.25M common units, with an underwriters option to purchase up to an additional 787.K units.
  • VTTI also issues its Q2 results, saying "the international storage market remains supportive of international storage demand, with growth expected in global product consumption and inter-regional flows in the long-term."

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