Dow to sell trio of US Gulf Coast tank terminals to Vopak JV

摘要

Dow has agreed to sell three of its chemical storage terminals on the US Gulf Coast for $620 million to a joint venture(JV)between Vopak(Rotterdam,Netherlands)and investment firm BlackRock(New York,New York).The transaction includes marine and storage terminal operations and assets at Dow's sites at Plaquemine and St.Charles,Louisiana; and Freeport,Texas,Dow says.The cash proceeds will be used for"value-enhancing opportunities consistent with Dow's capital-allocation priorities,"and demonstrates the company's"continued evaluation of nonrevenue-generating assets across its global portfolio,"it says.