Vitol Pays $830M To Gain Full Control Of Energy MLP

Law360, New York (August 21, 2015, 2:30 PM EDT) -- Energy trading giant Vitol Group said Friday that one of its investment units has agreed to pay $830 million to buy out Malaysian energy conglomerate MISC Berhad's stake in the general partner of a master limited partnership devoted to oil and petroleum storage terminals and other energy infrastructure.

Vitol said its Vitol Investment Partnership unit will buy MISC's 50 percent stake in energy storage firm VTTI BV, of which it owns the other 50 percent. VTTI BV controls VTTI Energy Partners LP, which owns and develops...
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