Vitol announces that Vitol Investment Partnership II Ltd (“VIP”), an investment vehicle sponsored and managed by Vitol, and IFM Investors (“IFM”), a global institutional funds manager, have agreed to acquire Buckeye Partners LP’s 50% equity interest in VTTI BV, the leading global independent provider of energy storage.

On completion, VTTI will be owned 50% by IFM and 50% by Vitol and VIP. It will continue to be managed by an independent management team led by Rob Nijst, CEO.

The transaction is subject to certain conditions precedent and is expected to close by year end.

About Vitol

Vitol is an energy and commodities company; its primary business is the trading and distribution of energy products globally – it trades over seven million barrels per day of crude oil and products and, at any time, has 250 ships transporting its cargoes.

Vitol’s clients include national oil companies, multinationals, leading industrial and chemical companies and the world’s largest airlines. Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including: circa 18mm3 of storage across seven continents, 480kbpd of refining capacity and 5,000 service stations across Africa, Australia, Eurasia and in Northwest Europe. Revenues in 2017 were $181 billion.

About IFM

IFM Investors is a global institutional funds manager with approximately US$82 billion under its management as of September 30, 2018. Established more than 25 years ago and owned by 27 Australian pension funds, IFM Investors’ interests are deeply aligned with those of its investors. Investment teams in Australia, Europe, North America and Asia manage institutional strategies across debt investments, infrastructure, listed equities and private equity. IFM Investors is committed to the United Nations supported Principles for Responsible Investment and has been a signatory since 2008. IFM Investors has offices in nine cities: Melbourne, Sydney, New York, London, Berlin, Zurich, Tokyo, Hong Kong, and Seoul.

About VTTI

VTTI, headquartered in Rotterdam, is one of the leading independent tank terminal companies in the world. VTTI owns and operates 11 terminals on 5 continents, with a total storage capacity of 6 million cubic meters. By 2012, VTTI will have 7.3 million cubic meters capacity, going up beyond 8 million cubic meters in 2013 given the existence portfolio of expansion projects.