Vopak and BlackRock to acquire US Gulf Coast marine and terminal operations of Dow for $620m.

Vopak, a global independent tank storage company, and BlackRock, a private equity firm, agreed to acquire US Gulf Coast marine and terminal operations of Dow, an American commodity chemical company, for $620m. "Today’s announcement is another demonstration of our ongoing commitment to applying a best-owner mindset, supported by rigorous benchmarking and a focus on disciplined capital allocation. 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. Dow is also pleased to further our longstanding relationship with Vopak who is already a key logistics partner at several Dow locations globally," Jim Fitterling, Dow Chairman and CEO.