Alcogal, leading mergers and acquisitions lawyers in Panama, advised Grande Investment Corp. in the negotiation for the acquisition of a controlling interest of Petroamerica Terminal S.A. (PATSA) by VTTI B.V.
Mergers and Acquisitions Lawyers in Panama
Alcogal, collaborated with the review, negotiation, and closing of the Stock Purchase Agreement, Shareholder´s Agreement, and other transactional documents. The acquisition totaled US$75 million.
Petroamerica Terminal S.A. is a logistics center for oil products with storage facilities for 1.1 million barrels, situated at the Pacific Ocean entrance to the Panama Canal.
Partners Alejandro Ferrer and Raúl Borrell participated in this transaction.
Global independent provider of energy storage
VTTI B.V. (“VTTI”), the global independent provider of energy storag made an acquisition of a 230,000 m3 facility in Panama, resulting in a joint venture between VTTI and Global SLI.
This deal sees VTTI take a 75% interest in PetroAmerica Terminal, S.A. (“PATSA”), a terminal strategically located on the Pacific side of the country, close to the Panama Canal, with a wide range of refined products storage.
VTTI’s expertise and knowledge of the industry as well as its international network will further strengthen the central role PATSA plays in supplying domestic and international markets and enhance its multiple potential growth opportunities. PATSA is a highly regarded regional terminal company with an excellent operating track record.
The terminal is located at the port of Puerto Vasco Nuñez de Balboa, Panama and has the following characteristics:
- CAPACITY (m³)230,500
- NUMBER OF TANKS44
- NUMBER OF JETTIES: 2
- MAXIMUM DRAFT (m)12
It has two quays with 39-foot-deep berthing and a loading area for tanker trucks – the ideal facilities for meeting the needs of ships, barges and industrial customers.
Its close relationship and commitment to its customers has led it to increase its capacity by 350,000 barrels of jet fuel for use in the Hub of the Americas (Tocumen International Airport) and to take over a new quay for the auxiliary maritime industry (logistics operators and the Panama Canal).
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