Vitol has announced that Vitol Investment Partnership II Ltd (VIP), an investment vehicle sponsored and managed by Vitol, and IFM Investors (IFM), a global institutional funds manager, have agreed to acquire Buckeye Partners LP’s 50% equity interest in VTTI BV, an independent provider of energy storage.
On completion, VTTI will be owned 50% by IFM and 50% by Vitol and VIP. It will continue to be managed by an independent management team led by Rob Nijst, CEO.
The transaction is subject to certain conditions precedent and is expected to close by year end.
