IL&FS' stake in Prime Terminals FZC was held through IL&FS Maritime Infrastructure Company Ltd (IMICL). VTTI acquired the energy storage terminal situated in UAE's Fujairah from IMICL and other shareholders.
The IL&FS Group has completed the sale of its 71.84 per cent stake in IL&FS Prime Terminals FZC (IPTF) to VTTI Terminal IBV (VTT I).The sale of the IPTF has successfully resolved IL&FS Group debt outstanding to the tune of Rs 757.79 .