Trader and shipowner Vitol is teaming up with IFM Investors to take control of Dutch energy storage company VTTI.
Its Vitol Investment Partnership II (VIP) and the fund manager have agreed to acquire Buckeye Partners' 50% interest in the company.
VTTI will then be owned 50% by IFM and 50% by Vitol and VIP.
It will continue to be managed by an independent management team led by CEO Rob Nijst.
