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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 is a master limited partnership that owns, controls or has access to a terminal network of refined petroleum products and renewable fuels. Co.'s segments are: Wholesale, which sells, gathers, blends, stores and transports refined petroleum products, gasoline blendstocks, renewable fuels, crude oil and propane; Gasoline Distribution and Station Operations, which sells branded and unbranded gasoline to gasoline station operators and sub-jobbers; and Commercial, which includes sales and deliveries to end user customers in the public sector and to commercial and industrial end users of unbranded gasoline, home heating oil, diesel, kerosene, residual oil and bunker fuel.
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Hold (1.50 out of 4)
(ranked lower than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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