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 Public Relations & Communications
Tel: +31 10 453 20 20
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SOURCE VTTI Energy Partners LP