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Slide #90. Global Partners LP — Majority Interest in Basin Transload LLC
Global Partners LP (NYSE:GLP)
Majority Interest in Basin Transload LLC
Global Partners LP (NYSE:GLP) today announced the completion of its previously announced acquisition of a 60% membership interest in Basin Transload LLC ("Basin Transload"), which operates two crude oil transloading facilities in Columbus and Beulah, North Dakota with a combined rail loading capacity of 160,000 barrels per day. The purchase price, subject to post-closing adjustments, was approximately $85 million, which Global financed through an increase in its credit facility.
Global Partners owns, controls, or has access to terminal networks of refined petroleum products and renewable fuels in Massachusetts, Maine, Connecticut, Vermont, New Hampshire, Rhode Island, New York, New Jersey and Pennsylvania. Co is engaged in the purchasing, selling, gathering, blending, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks (such as ethanol), distillates (such as home heating oil, diesel and kerosene), residual oil, renewable fuels, crude oil and propane and in the transportation of petroleum products and renewable fuels by rail from the mid-continent region of the U.S. and Canada.
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