Saudi Aramco subsidiary to buy stake in Rotterdam terminal
10/26/2017 8:10:38 AM
RIYADH (Reuters) — Saudi Aramco Overseas Company (AOC), a subsidiary of Saudi Aramco, has entered into an arrangement to buy a stake in a Rotterdam terminal from commodities trader Gunvor, the company said on Thursday.
AOC will buy Gunvor’s stake in the Maasvlakte Olie Terminal and the sale is targeted for completion by the end of October, it said in a statement.
AOT’s investment in the terminal will add to its investment in other facilities in the same area and allow it to expand offerings in the North West Europe refining hub, it said.
Reporting by Reem Shamseddine; writing by Maha El Dahan; editing by Jason Neely
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