Colonial First State Investments Limited reached an agreement to acquire terminals in Algeciras, Amsterdam and Hamburg from Koninklijke Vopak N.V. (ENXTAM:VPK) for approximately €720 million on April 5, 2019. The total agreed transaction value of the terminals is €723 million, including a contingent consideration of €15 million, which is subject to certain revenue conditions. The transaction has an implied multiple of more than 10x EBITDA.. Colonial First State Investments Limited will work with the incumbent management team and employees at the terminals to continue to develop and grow the business. The transaction is subject to certain customary closing conditions and is expected to complete in the second half year of 2019. This transaction is accretive to the return on capital employed for Vopak. At the completion of the transaction, the use of the proceeds will be considered in line with the strategy and financial framework presented by Vopak of capital allocation decisions shifting the portfolio further towards industrial, chemicals and LNG, LPG and chemical gases terminals with access to further growth opportunities and the financial framework strategy executed with a balanced approach between allocating capital to growth opportunities, an efficient and robust capital structure and distributing cash to shareholders. As of September 30, 2019, the sale of terminals in Amsterdam and Hamburg has been completed. For the sale of terminal in Algeciras, Vopak is currently in discussion with the current minority shareholder of the terminal, for the sale of 80% share interest for the same purchase price and terms and conditions. J.P. Morgan acted as financial advisor to Royal Vopak. Lara Hemzaoui, Jorge Toral, Ramiro Fernández and Fernando Carretero of Linklaters LLP acted as the legal advisors to Colonial First State Investments Limited. Alan Ninwa, Ascherfeld Nicolaus, Bondrager Rens, Burggraaf Jan Louis, Coumans Dominique, de Groot Klaas-Jan, de Vries Yvo, Diaz-Maurino Enrique, Dieker Thomas, Doornik Frank, Driesen Tim, Graubner Louisa, Grühn Marcus Otto, Heilmann Maria, Hernandez Jorge, Hitzelberger-Kijima Yukiko, Holst Jan Frederik Christian, Honée Charles, Hornedo Ignacio, Horowitz Stephanie, Hustinx Octave, Jimenez Zoila,Jongen Herald, Kuipers Cobie, Mato Gadea, Merkenich Moritz, Nazaryar Iradj, Opel Anna, Perez-Hernandez Maria, Puig Alejandra, Reijn Naomi, Sainz Lucia, Schouten Sander, Seidel Sören, Spaans Jochem, van Bezooijen Marjet, van den Ende Maarten, van der Hulle Rob, van Embden Thierry, van Orden Friso, Vogt Janna, Vos Madeleine, Weber Heike, Wirxel Charlotte, Withagen Anna-Maria,Wittgens Jonas and Zimmer Nils of Allen & Overy acted as legal advisors to Koninklijke Vopak N.V.