Macquarie Infrastructure to buy full stake in liquid storage provider

Mon Jul 7, 2014 5:11pm EDT
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July 7 (Reuters) - Macquarie Infrastructure Co LLC said it would buy the 50 percent stake in liquid storage provider International-Matex Tank Terminals that it does not control for $1.03 billion.

Macquarie, which owns half of International-Matex since 2006, said it would buy the remaining interest from members of the business' founding family for $910 million in cash and $115 million in stock.

International-Matex comprises ten marine terminals in the United States and two partially-owned terminals in Canada that store and handle petroleum products, vegetable and tropical oils, renewable fuels, and other chemicals. (Reporting by Sneha Banerjee in Bangalore; Editing by Savio D'Souza)