Royal Vopak and Aegis Logistics formed a joint venture in a $147m deal.

Royal Vopak, an independent tank storage company, and Aegis Logistics, an oil and gas logistics company, formed a joint venture, in a $147m deal. “This joint venture with Vopak will accelerate the growth of Aegis in the terminals business and has the potential to allow Aegis to diversify into new areas of gas storage such as LNG and other energy projects including renewables in partnership with the world’s leading independent tank storage company. We expect the deal to be significantly earnings enhancing for Aegis shareholders due to the deployment into growth opportunities of the combined financial firepower of the two groups and management in the terminals business.” Raj Chandaria, Aegis Logistics Chairman.