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Valero Energy Partners buys terminals from affiliate for $465M

Sep 24, 2015 - The Deal Pipeline
Mergers and Acquisitions

San Antonio crude oil transportation and storage provider Valero Energy Partners LP (VLP) said after the markets closed Wednesday that it purchased a terminal services business in Corpus Christi from a unit of affiliate Valero Energy Corp. (VLO) for $465 million. The assets involve two terminals that support Valero's Corpus Christi East and West refineries, including 134 tanks with 10.1 million barrels of storage capacity for crude oil, intermediates and refined petroleum products.