Deals
Valero Energy Partners Buys Terminal Services for $325 Million
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Valero Energy Partners LP said it acquired terminals at refineries in Louisiana and Texas from a subsidiary of Valero Energy Corp. for $325 million.
The acquisition is expected to add about $25 million of net income and about $39 million of earnings before interest, taxes, depreciation and amortization in the first twelve months of operation, the San Antonio-based company said in a statement Monday. The partnership expects to finance the acquisition with borrowings under its revolving credit facility, cash on hand and issuance of common and general partner units to Valero subsidiaries.