MISC acquires 50% of VTTI B.V.

Leading international shipping line, MISC Berhad, and one of the world’s largest independent energy trading companies, the Vitol Group, signed a sale and purchase agreement via their respective subsidiaries whereby MISC’s wholly owned subsidiary, MTTI Sdn Bhd, will acquire 50% of the shares in VTTI B.V., currently a wholly owned subsidiary of Vitol, for US$735 million, subject to price adjustments. VTTI owns and operates a network of petroleum products terminals with a gross combined capacity of nearly 6 million cubic meters (cu m), which is set to expand to more than 7 million cu m by 2013. With interests spanning more than 11 countries and five continents, VTTI is one of the top 10 independent tank terminal operators in the world. (May 17, 2010)