Monday, February 4, 2013

Global Partners Updates Basin Transload Acquisition

Global Partners LP today announced the completion of its previously announced acquisition of a 60% membership interest in Basin Transload LLC, 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.

“The transaction complements our recently announced agreement to purchase a West Coast crude oil transload and ethanol facility near Portland, Oregon,” said Eric Slifka, Global’s president and chief executive officer. “That facility is linked via the BNSF Railway to the Beulah facility, where Basin Transload is constructing a 140,000 barrel tank and truck offloading rack to support crude oil production in the Williston Basin. Our Albany, NY terminal is connected via single line haul on Canadian Pacific to Basin Transload’s Columbuslocation, where we own and operate a 100,000 barrel storage tank and truck offloading rack."

Source: Global Partners

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