Inter Pipeline Fd Limited Partnership Unit CL A IPPLF

European bulk liquid storage business

[Weezer99]

HI All,  
Now that oil is lower companies will put alot of oil in storage so they can sell it the road at a higher prices
so is this the time to sell the European bulk liquid storage business and get a good price for it .
Thanks 
Weezer


Inter Pipeline Explores Sale of European Bulk Liquid Storage Business

T.IPL | August 8, 2019

Canada NewsWire

CALGARY, Aug. 8, 2019

CALGARY, Aug. 8, 2019 /CNW/ - Inter Pipeline Ltd. ("Inter Pipeline") (TSX: IPL) announced today it is exploring the potential sale of its European bulk liquid storage business ("Inter Terminals"). Should a sale be completed, proceeds could be used to reduce outstanding debt and finance Inter Pipeline's capital expenditure program, including the Heartland Petrochemical Complex.  

"Inter Terminals is a high-quality business with outstanding management and staff.  It has made an important contribution to the success and growth of Inter Pipeline over the past 14-years," said Christian Bayle, President and Chief Executive Officer of Inter Pipeline. "Our decision to explore alternatives is consistent with Inter Pipeline's practice of making prudent long-term portfolio management decisions particularly in light of our organic growth initiatives."

Inter Terminals is one of the largest independent bulk liquid storage businesses in Europe with operations in the United Kingdom, Denmark, Sweden, Germany, Netherlands and Ireland. Inter Terminals has approximately 37 million barrels of storage capacity across 23 terminals. These storage terminals are long life infrastructure assets that are strategically located close to established global market hubs, product delivery channels, refineries and chemical production facilities.

This process is not expected to have an impact on Inter Terminals operations which are continuing in the ordinary course. Inter Pipeline has not established a definitive timeline to complete this process and there is no assurance that a transaction will result from it. Inter Pipeline does not intend to comment further with respect to this process unless and until it determines that additional disclosure is appropriate in the circumstances and in accordance with the requirements of applicable securities laws.

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