On October 4, 2005, Calgary, Alberta-based Inter Pipeline Fund, a major Canadian oil shipper and one of North America's largest natural gas liquids extraction businesses, acquired Simon Storage Ltd., the largest independent petroleum and petrochemical storage company in the United Kingdom, for approximately $250 million.
As a result of the acquisition, Inter Pipeline will acquire seven deep-water storage terminals on the coasts of the UK and Ireland, increasing Inter Pipeline's storage capacity to more than 7.3 million barrels from 1.3 million barrels. Simon Storage has approximately 440 employees and is integrated with the operations of major regional oil refineries and petrochemical plants in Britain.
Inter Pipeline Fund was represented by Katherine Camarta, senior legal counsel and corporate secretary, and James Arsenych, associate general counsel; Burnet, Duckworth & Palmer LLP with a team that included John Cuthbertson and James Kidd (corporate), Dino DeLuca (banking) and Jeff Fortin (tax); and by Ashurst in the UK with a team that included Julian Bradley (corporate), Paul Miller (tax) and their specialist colleagues as needed.
The shareholders of Simon Storage (Patron Capital Ltd. and Fortress Investment Group) were represented by Taylor Wessing with a team that included Nick Briant and John Mesrie. The management of Simon Storage was represented by Fraser McColl of Maxwell Batley.
As a result of the acquisition, Inter Pipeline will acquire seven deep-water storage terminals on the coasts of the UK and Ireland, increasing Inter Pipeline's storage capacity to more than 7.3 million barrels from 1.3 million barrels. Simon Storage has approximately 440 employees and is integrated with the operations of major regional oil refineries and petrochemical plants in Britain.
Inter Pipeline Fund was represented by Katherine Camarta, senior legal counsel and corporate secretary, and James Arsenych, associate general counsel; Burnet, Duckworth & Palmer LLP with a team that included John Cuthbertson and James Kidd (corporate), Dino DeLuca (banking) and Jeff Fortin (tax); and by Ashurst in the UK with a team that included Julian Bradley (corporate), Paul Miller (tax) and their specialist colleagues as needed.
The shareholders of Simon Storage (Patron Capital Ltd. and Fortress Investment Group) were represented by Taylor Wessing with a team that included Nick Briant and John Mesrie. The management of Simon Storage was represented by Fraser McColl of Maxwell Batley.
