buckeye partners sells stake in vitol-backed storage firm vtti - energy storage companies
2020-01-06
MERITSUN
117
LONDON (Reuters)-U. S.
Logistics company Vitol conifers partners sell 50% of their shares --
The companies said on Friday that VTI, the global energy storage company that supports it, will see existing shareholders Vitol and IFM Investors increase their stakes.
Buckeye says it will receive $0. 975 billion in cash once the deal is completed by the end of this year.
Vitol, a global energy trader, said in a statement that after the sale, it will retain a 50% stake in its investment tool Vitol Investment Partnership.
IFM, global fund manager, will have another 50% funds.
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