Inter Pipeline Sells Majority of European Storage Business to CLH

Updated 10 months 1 week ago

Inter Pipeline announced the closing for the majority of its European bulk liquid storage business to the CLH Group for GBP 420 million in cash. This includes 18 million barrels of storage capacity across 15 storage terminals located in the United Kingdom, Ireland, Netherlands, and Germany. Proceeds will be used to reduce debt and fund capital expenditure for the Heartland Petrochemical Complex. Inter Pipeline will continue to own and operate eight terminals in Sweden and Denmark with 19 million barrels of storage capacity.