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Slide #92. Global Partners LP — West Coast crude oil and ethanol facility
Global Partners LP (NYSE:GLP)
West Coast crude oil and ethanol facility
Global Partners LP announced that it has signed an agreement to acquire 100 percent of the membership interests in a West Coast crude oil and ethanol facility near Portland, Oregon from Cascade Kelly Holdings LLC. The total purchase price is expected to be approximately $95 million. The transaction includes a rail transloading facility serviced by the BNSF Railway, 200,000 barrels of storage capacity, a deepwater marine terminal, a 1,200-foot dock and the largest ethanol plant on the West Coast. Situated along the Columbia River in Clatskanie, Oregon, the site is located on land leased under a long-term agreement from the Port of St. Helens. In November 2012, the facility began transloading unit trains of crude oil.
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 include: 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 (2.00 out of 4)