Dow to Sell Terminal Operations
Dow to sell Gulf Coast marine, terminal operations in $620M deal
Dow Inc. (NYSE:DOW) agrees to sell some U.S. Gulf Coast marine and terminal operations and assets to a joint venture owned by tank storage company Royal Vopak and BlackRock’s Global Energy & Power Infrastructure Fund for $620M.
The sale includes marine and storage terminal operations and assets at Dow’s sites in Plaquemine and St. Charles, La., and Freeport, Tex.
Dow and Vopak also will enter into long-term service agreements, ensuring services for existing Dow businesses at the in-scope sites.
In July, Dow agreed to sell its rail infrastructure assets at six North American sites to Watco Companies for ~$310M.
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