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Tesoro to buy Great Northern from Quintana, EIV

Dec 09, 2015 - The Deal Pipeline
Mergers and Acquisitions

San Antonio oil refiner Tesoro Corp. (TSO) said Tuesday, Dec. 8, that it has agreed to acquire Great Northern Midstream LLC, which owns and operates crude oil pipeline, gathering system, transportation, storage and rail loading facilities in North Dakota's Williston Basin.

It didn't disclose terms but said the price was 5 to 6 times expected Ebitda, which Simmons & Co. International analyst Jeff Dietert called "a bargain," given that logistics assets have typically traded at 9 to 10 ti...