GES exits Netherlands to focus on Asia

The company has sold both its Port of Rotterdam terminal to Tepsa as well as divesting its Amsterdam terminal.

“Part of the investment cycle is realising value from assets at the right time, and we’re confident this was the right moment for GES,” said Peter Vucins, chief executive of GES.

“We are now fully focused on growing our business in Asia, with Port Klang [in Malaysia] at the centre of that strategy.”

The Rotterdam facility includes 212,000cbm of tank storage and around 18 hectares of development land in the Europoort area, whilst the Amsterdam site, which GES acquired in 2016, now boasts 300,000cbm of capacity for gasoline, petroleum and biofuels following two major expansion projects.

With the Rotterdam and Amsterdam sales completed, GES no longer holds assets in the Netherlands. The company will now concentrate efforts on developing its flagship terminal in Port Klang amid rising regional demand for bulk liquid storage including chemicals, biofuels and new energy products.

Backed by Bluewater and White Deer, GES stated the Amsterdam transaction marks a significant milestone in its global growth journey.

While the financial terms of both deals remain undisclosed, the company emphasised the strong return for shareholders and the continued long-term viability of the divested assets under new ownership.