ROTTERDAM, Netherlands, Sept. 15, 2017 /PRNewswire/ -- VTTI B.V. ("VTTI")
announced today the successful completion of its previously
announced merger with VTTI Energy Partners LP (the
"Partnership").
At a special meeting of the Partnership's unitholders held on
September 13, 2017, a majority of the
Partnership's common unitholders other than certain affiliates and
a majority of the Partnership's subordinated unitholders voted in
favor of the adoption and approval of the agreement governing the
merger and the transactions contemplated thereby.
Upon market open, the Partnership will cease to be a
publicly-traded partnership and its common units will no longer
trade on the New York Stock Exchange.
Each common unit other than those common units held by (a)
Stichting Administratiekantoor VTTI that do not correspond to a
vested depositary receipt issued to an employee, consultant or
director of the Partnership or its affiliates (the "Unvested LTIP
Units") and (b) MLP Partners was converted into the right to
receive $19.50 in cash (the "merger
consideration"). The Unvested LTIP Units were cancelled at the
effective time of the merger without payment therefor. The common
units held by MLP Partners were not cancelled, were not converted
into the merger consideration and remain outstanding as common
units.
About VTTI B.V.
VTTI B.V. is a fee-based, growth-oriented business formed to
own, operate, develop and acquire refined petroleum product and
crude oil terminaling and related energy infrastructure assets on a
global scale. VTTI's assets include interests in a broad-based
portfolio of terminals that are strategically located throughout
the world with a combined total storage capacity of 58 million
barrels.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking statements." All
statements, other than statements of historical facts, that address
activities, events or developments that VTTI expects, projects,
believes or anticipates will or may occur in the future are
forward-looking statements. You are cautioned not to rely on these
forward-looking statements, which speak only as of the date of this
press release. VTTI undertakes no obligation and does not intend to
update these forward-looking statements to reflect events or
circumstances occurring after this press release. These statements
are based on current expectations of future events, are not
guarantees of future performance and are subject to risks,
uncertainties and other factors, some of which are beyond VTTI's
control and are difficult to predict. These risks and uncertainties
include the risks that the proposed transaction may not be
consummated or the benefits contemplated therefrom may not be
realized. If underlying assumptions prove inaccurate or
unknown risks or uncertainties materialize, actual results could
vary materially from our expectations and projections.
For additional information contact:
VTTI B.V.:
Lisanne Kosters
VTTI Public Relations & Communications
Tel: +31 10 453 20 20
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SOURCE VTTI Energy Partners LP
