Vitol buys World Point operations for $170 mln
World Point, which operates petroleum storage terminals, said the sale of two European units includes the Europoint terminal in Amsterdam harbor, with 7.9 million barrels of storage in 280 tanks.
Scotia Waterous, which acted for World Point, said on its Web site that the Amsterdam terminal is a delivery point for the Intercontinental Exchange and the International Petroleum Exchange.
The transaction, which will be backdated to September 30, consists of the sale of two World Point units, Europoint Terminals Netherlands B.V. and Ronaco Holdings B.V.
World Point put the operations up on the block in January.
Rotterdam-based Vitol,one of the world's largest oil trading firms, sold a refinery in the Canadian province of Newfoundland to a Calgary-based energy trust in August for C$1.6 billion ($1.43 billion).
World Point shares were halted on the Toronto Stock Exchange midday on Monday. They last traded at C$16.81, up 96 Canadian cents.
