MIC - Riverstone to buy Macquarie tank terminals business in $2.7B deal

Macquarie Infrastructure Group ([[MIC]] +9.6%) agrees to sell its International-Matex Tank Terminals energy storage operations subsidiary to Riverstone Holdings for $2.685B.IMTT operates 19 terminals used in the storage and handling of bulk liquid products for the energy, industrial, consumer and transportation industries, with total storage capacity of 48M barrels.Macquarie also reported below-consensus Q3 results, including adjusted EBITDA from continuing operations of $60M, -54% Y/Y and roughly half analyst consensus $115.5M, and a 50% decline in revenues to $202M.

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Riverstone to buy Macquarie tank terminals business in $2.7B deal