Share Holders Okay Macquarie, Goldman Sachs to Acquire HES International
Riverstone Holdings and The Carlyle Group jointly announce that they intend to sell HES International to a consortium of Macquarie Infrastructure and Real Assets (MIRA) & Goldman Sachs. Macquarie European Infrastructure Fund 5, which is managed by MIRA, and West Street Infrastructure Partners III (WSIP), which is managed by the Merchant Banking Division of Goldman Sachs, have reached an agreement in principle with Riverstone Holdings and The Carlyle Group to acquire HES International. Capital for the original investment by Riverstone and Carlyle came from two funds: (i) Riverstone/Carlyle Global Energy & Power Fund IV, L.P. and (ii) Carlyle International Energy Partners, L.P. (CIEP). HES will now initiate consultations where appropriate with the relevant works councils.
Descartes' Solution Transforms Tank Terminal
Descartes Systems Group transformed its core business from the storage of grains to the storage of oils with the help of Descartes' advanced European customs connectivity and compliance capabilities. "In the European oil storage business, the communication and exchange of documents with customs authorities is mission critical, much more so than with grain storage. With excise amounts in the millions of euros and operating permits at stake, the clearance and duty declaration process needs to be completely accurate," said Charles Smissaert, Managing Director at Botlek Tank Terminal.
