Buckeye Partners sold its stake in Vitol backed VTTI.

Vitol Investment Partnership II Ltd, an investment vehicle sponsored and managed by Vitol, and IFM Investors, a global institutional funds manager, have agreed to acquire Buckeye Partners LP’s 50% equity interest in VTTI BV, the leading global independent provider of energy storage. Buckeye said it would get $975m in cash. On completion, VTTI will be owned 50% by IFM and 50% by Vitol and VIP. It will continue to be managed by an independent management team led by Rob Nijst, CEO.