Prostar Capital, a private investment firm focused on midstream energy infrastructure assets, has signed a definitive agreement to acquire 100 percent of an oil storage terminal facility on the island of Sint Eustatius, a Dutch territory in the Caribbean, from NuStar Energy.
The purchase price is approximately $250 million, subject to customary closing conditions and adjustments, and the transaction is expected to close by the end of second quarter 2019.
The Sint Eustatius Terminal consists of 60 commercial tanks and associated deepwater jetties and pipelines, with a total storage capacity of 2.3 million cubic meters. It is conveniently located in the Caribbean region to serve key trading countries.
