TransMontaigne Partners acquiring 2 terminals from Plains All American Pipeline

摘要

TransMontaigne Partners LP announced November 8 that one of its wholly owned subsidiaries has entered into an agreement to acquire the Martinez Terminal and Richmond Terminal in California from an affiliate of Plains All American Pipeline LP for a total purchase price of $275 million. The acquisition expands the partnership's storage and terminaling footprint into the San Francisco CA Bay Area refining complex. The acquisition is expected to be financed through the proceeds of a common unit offering and cash available from other sources. The closing of the acquisition is expected to occur on or about January 1, 2018, subject to customary closing conditions.