Tristar Transport has agreed to take 51% stake in HG Storage International in a $215m deal with HNA-backed Madison Pacific Trust; the existing joint venture partner, Glencore, will retain its 49% interest. The deal, expected to complete by the end of the second quarter, will give Tristar a majority holding in a portfolio of oil storage, distribution and retail assets and add more than 3m m3 of fuel storage capacity.
(Source: HCB)