Pakistani fertilizers to foods company Engro Corporation, a unit of Dawood Hercules Corp., has sold 29 percent of its stake in liquefied natural gas storage terminal operator Elengy Terminal Pakistan Limited (ETPL) for $31.378 million.

Engro sold the stake to Netherlands-based liquefied natural gas terminal operator Vopak LNG Holding.

In addition, Vopak LNG has also bought an additional 5 percent stake from International Finance Corporation (IFC) pursuant to IFC’s tag-along rights under the shareholder’s agreement that it has in place with Engro Corporation.

Engro shares were trading at $4.16, up $0.057 at the opening on Friday.