Tesoro drops down Alaska assets for $444 million

摘要

Tesoro Corp. recently agreed to sell its storage and terminalling assets in Alaska to its MLP, Tesoro Logistics LP (TLLP), for $444 million. The purchase price consists of $400 million in cash and $44 million in units. The Alaska storage and terminalling assets include: 1. Storage: Crude oil, feedstock and refined product storage tanks with a combined capacity of about 3.5 million barrels (MMbbl) in Kenai, Alaska, with connectivity with TLLP’s Tesoro Alaska Pipeline and Nikiski Products Terminal and Tesoro’s Kenai Refinery.