Valero Energy Partners LP (NYSE:VLP), San Antonio, TX, has agreed to acquire the Meraux and Three Rivers Terminal Services business from a subsidiary of Valero Energy Corp. (NYSE:VLO) for $325 million.
The Meraux assets consist of 24 tanks with 3.9 million barrels of storage capacity for crude oil, intermediates and refined petroleum products. The Three Rivers assets consist of 62 tanks with 2.3 million barrels of storage capacity for crude oil, intermediates and refined petroleum products.
“With this next step in our growth strategy, we’re expanding our U.S. Gulf Coast footprint and achieving our acquisition target for the year,” said Joe Gorder, CEO of VLP’s general partner.
