CALGARY, AB, 12 November 2020 / PRNewswire / – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) announced the successful closure of most of its European bulk liquid garage business to the CLH Group for a monetary attention of 420 million pounds, the subject of standard final adjustments.
The sale includes 18 million barrels of garage capacity in 15 garage terminals located in the UK, Ireland, the Netherlands and Germany. Revenue will be used to reduce inter Pipeline’s debt balance sheet and help fund its capital expenditure program, adding Heartland. petrochemical complex.
Inter Pipeline will continue to own and will be operating with the remaining 8 terminals in Sweden and Denmark, which have a total garage capacity of approximately 19 million barrels.