Royal Vopak (Vopak) today announces that it will sell a 30% non-controlling interest in Vopak Terminal Durban to Reatile Chemicals (Pty) Limited. Reatile Chemicals is part of the Reatile Group, a South African company with three main industrial focus areas: mining services, energy and petrochemicals.
Since 2009 Vopak and Reatile are jointly developing growth opportunities in South Africa. With Reatile, Vopak Terminal Durban gains a shareholder contributing extensive local business experience required to enable further growth.
The official transaction date of this agreement is subject to approval by the local authorities.
Profile Vopak
Royal Vopak (Vopak) is the world's largest independent tank storage service provider, specialized in the storage and handling of liquid chemicals, gasses and oil products. The company operates 84 terminals with a combined storage capacity of more than 28 million cubic meters in 31 countries. The terminals are strategically located for users along the major shipping routes. The majority of its customers are companies operating in the chemical and oil industries, for which Vopak stores a large variety of products destined for a wide range of industries.
Profile Reatile Chemicals
Reatile Chemicals (Pty) Limited is part of the Reatile Group; a black-owned and managed investment holding company formed in 2003. The founding members of Reatile maintain a controlling stake in the group, which ensures that they are focused exclusively on the fulfilment of its vision and strategic objectives. Reatile Group has three main focus areas: mining services, energy and petrochemicals. The founding members are all engineers with extensive careers and executive experience in these chosen sectors.