Vopak Sells Stake In Heavy Transport Group

Thursday, March 15, 2001
Dutch-based chemical distribution and storage company Vopak NV said on Thursday it had sold one third of its 30 percent stake in unit Heavy Transport Group NV to unlisted Dutch partner Heerema. The transaction will generate a book profit of about 20 million euros ($18.15 million), which will be included in the 2001 results as an extraordinary gain, Vopak said in a brief statement. Last week, the group said it planned to trim its ownership in the shipping sector. Vopak was formed in November 1999 through the merger of Dutch sector peers Van Ommeren and Pakhoed NV. - (Reuters)
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