VTTI B.V. Announces Successful Completion of Merger with VTTI Energy Partners LP
VTTI B.V. announced the successful completion of its previously announced merger with VTTI Energy Partners LP.
At a special meeting of the Partnership’s unitholders held on September 13, 2017, a majority of the Partnership’s common unitholders other than certain affiliates and a majority of the Partnership’s subordinated unitholders voted in favor of the adoption and approval of the agreement governing the merger and the transactions contemplated thereby.
Upon market open, the Partnership will cease to be a publicly-traded partnership and its common units will no longer trade on the New York Stock Exchange.
Each common unit other than those common units held by (a) Stichting Administratiekantoor VTTI that do not correspond to a vested depositary receipt issued to an employee, consultant or director of the Partnership or its affiliates (the “Unvested LTIP Units”) and (b) MLP Partners was converted into the right to receive $19.50 in cash (the “merger consideration”). The Unvested LTIP Units were cancelled at the effective time of the merger without payment therefor. The common units held by MLP Partners were not cancelled, were not converted into the merger consideration and remain outstanding as common units.