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New Deal


Announced

Completed

HNA acquired a 51% stake in Glencore's petroleum products storage and logistics business for $775m.

Financials

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Transaction Value£619m
Consideration TypeCash
Capital Owned-
Capital Bid For51%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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oil storage and transportation

Oil Equipment and Services

United Kingdom

Acquisition

Friendly

Completed

Private

Synopsis

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Glencore has sold a 51% share of its oil product storage and logistics business to China’s HNA Innovation Finance for $775 million in cash. HGSI is a new vehicle which has consolidated Glencore's petroleum products storage and logistics businesses into a global portfolio of high-calibre assets, located in strategic trading hubs across Europe, Africa, the Middle East and the Americas.

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