Royal Vopak NV (GB:0O8V) has released an update.
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Royal Vopak NV’s joint venture, AVTL in India, has announced a primary equity issue of INR 8.0 billion, equivalent to EUR 88 million, to repay borrowings and fund growth projects. This transaction will dilute Vopak’s shareholding in AVTL from 49% to 47.3%, with 360 ONE as the lead investor. AVTL continues to explore various funding options to support its expansion and maintain its position as a leading tank storage operator in India.
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