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Slideshow Mergers & Acquisitions

By The Online Investor Staff, updated Fri., Feb. 27, 4:08 PM

Slide #2. Valero Energy Partners LP Certain Valero Terminaling Businesses

Acquirer: Valero Energy Partners LP (NYSE:VLP)
Acquiree: Certain Valero Terminaling Businesses
Details: Valero Energy Partners LP (NYSE: VLP, the Partnership) today announced that the board of directors of its general partner has approved the Partnership's acquisition of certain businesses from subsidiaries of Valero Energy Corporation (NYSE: VLO, Valero). In the transaction, the Partnership will receive the outstanding membership interests in Valero Partners Houston, LLC and Valero Partners Louisiana, LLC for total consideration of about $671 million. The transaction is expected to be immediately accretive to the Partnership and its unitholders and is expected to close effective March 1, 2015.

Valero Energy Partners is a master limited partnership. Co.'s assets consist of crude oil and refined petroleum products pipeline and terminal systems in the U.S. Gulf Coast and U.S. Mid-Continent regions as follows: Port Arthur Logistics System, a crude oil and refined petroleum products pipeline and terminal system that supports Valero Energy Corp.'s (Valero's) Port Arthur Refinery in Port Arthur, TX; McKee Products System, a refined petroleum products pipeline and terminal system that supports Valero's McKee Refinery in Sunray, TX; and Memphis Logistics System, a crude oil and refined petroleum products pipeline and terminal system that supports Valero's Memphis Refinery in Memphis, TN.

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Company Name:  Valero Energy Partners LP
Website:  www.valeroenergypartners.com
Sector:  Oil & Gas Equipment & Services
Number of ETFs Holding VLP:  1
Total Market Value Held by ETFs:  $425458
Total Market Capitalization:  $1.54B
% of Market Cap. Held by ETFs:  0.03%
 

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February 27, 2015    4:08 PM Eastern
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