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Gull Petroleum sells Kwinana terminal to Coogee for $40m |
March 9, 2010 [The Australian - WA Business Times] - The Gordon Martin-led Coogee Chemicals has bought a terminal next to its Kwinana facilities from Gull Petroleum in a deal valued at nearly $40 million. |
| The deal closed late last week but was not formally listed on the ACCC's mergers register until yesterday, despite warnings from claimed rival bidders. The deal virtually locks up independent suppliers for Coogee, which may explain why it was prepared to pay about 20 times earnings before interest, tax and depreciation for the facilities -- against a rival bid of $14m, or just seven times earnings. |
| Article contains 65 words |
| Added to TankTerminals.com on: Tuesday, March 09, 2010 by The Australian - WA Business Times. |
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