Allen & Overy instructed by AMP Capital on acquisition of stake in CLH
Allen & Overy acted for AMP Capital on the sale of a 10 per cent stake in Compania Logistica de Hidrocarburos (CLH) to Macquarie European Infrastructure Fund 5 (MEIF5).
MEIF5 also acquired a further 10 per cent stake in CLH from Oman Oil Company SAOC.
CLH owns and operates approximately 92 per cent of Spain’s refined products pipeline network (around 4,020km in length) and 54 per cent of Spain’s oil storage capacity (over 8 million cubic metres across 40 storage facilities).
In addition to these core activities, CLH is also active in the UK (with approximately 2,000km of pipeline and 1 million cubic metres of storage capacity across 16 facilities) and Ireland (with a fuel storage terminal at Dublin Airport)
The deal is set to be finalised by the end of June 2017.