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Vopak & Exmar Call Off FSRU Deal

Source: Reuters 4/27/2017, Location: Asia

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Dutch oil and chemical storage company Vopak and tanker operator Exmar said that they had decided not to pursue the acquisition by Vopak of Exmar's participation in Floating Storage Regasification Unit (FSRU) assets.

The companies said in a statement that the deal depended on the consent of multiple stakeholders, and that they had concluded that this requirement would not be met.

Shares in Exmar had risen more than 6 percent when the two companies signed an agreement in December. Talks were first announced in September.

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