Dow has entered into a definitive agreement to divest certain U.S. Gulf Coast marine and terminal operations and assets to Vopak Industrial Infrastructure Americas, a joint venture of Royal Vopak and BlackRock’s Global Energy & Power Infrastructure Fund, for $620 million.
The transaction includes marine and storage terminal operations and assets at Dow’s sites in Plaquemine and St. Charles, La., and Freeport, Texas.
Royal Vopak is a global independent tank-storage company with more than 400 years of expertise in independent storage and infrastructure services.
“The transaction will enable Dow to deploy cash towards value-enhancing opportunities in our core businesses consistent with our capital-allocation priorities, including ensuring safe and reliable operations and paying down additional debt,” said Jim Fitterling, chairman and CEO of Dow. “Dow is also pleased to further our longstanding relationship with Vopak, who is already a key logistics pa
