Sinopec Kantons purchases 50% stake in Vesta Terminals

October 1, 2012

De Brauw Blackstone Westbroek has advised one of the world’s top refineries, Sinopec, on acquiring a 50% stake in Mercuria’s terminals business. Sinopec Kantons Holdings, a unit of state-owned Sinopec, formed a joint venture with Mercuria, the fifth-largest independent oil trader, and purchased 50% of the latter’s Vesta Terminals for EUR 128.6 million.

Vesta Terminals is a leading independent liquid bulk storage operator in Europe with a total of approximately 1.6 million cubic meters of petroleum products and biofuels capacity at three terminals in Antwerp, Flushing and Tallinn.​ The deal valued the terminals business at EUR 442 million. The purchase is the first major move by a Chinese state-owned enterprise into the European oil storage market. De Brauw worked alongside Vinson & Elkins, who acted as lead counsel to Sinopec.


Team: London: Ernest Meyer Swantée, Elmer Veenman; RE: Etiënne Dijkhorst, Maarten Tinnemans; Tax: Henk van Ravenhorst; C&R: Iris Kieft; EEB: Barbara van Duren-Kloppert, Willemijne Adank.​

We keep track of you on our site with cookies, in order to offer the basic functionality of the website and generate user statistics on an anonymous basis to make our website more user-friendly. We do not use or share your data with third parties for advertising purposes.