Buckeye Partners, L.P. Announces Successful Completion of Merger of VTTI B.V. and VTTI Energy Partners LP
September 18 2017 - 6:30AM
Buckeye Partners, L.P. (“Buckeye”) (NYSE:BPL) announced the
successful completion of the previously announced merger of VTTI
Energy Partners LP (the “VTTI Energy Partners”) with and into a
direct wholly owned subsidiary of VTTI B.V. (“VTTI”). Buckeye
acquired a 50% indirect equity interest in VTTI in January
2017.
At a special meeting of VTTI Energy Partners’
unitholders held on September 13, 2017, the agreement governing the
merger and the transactions contemplated thereby were approved and
upon market open on September 15, VTTI Energy Partners ceased to be
a publicly-traded partnership and its common units were delisted
from trading on the New York Stock Exchange.
About Buckeye Partners,
L.P.
Buckeye Partners, L.P. (NYSE:BPL) is a publicly
traded master limited partnership and owns and operates a
diversified network of integrated assets providing midstream
logistic solutions, primarily consisting of the transportation,
storage, processing and marketing of liquid petroleum
products. Buckeye is one of the largest independent liquid
petroleum products pipeline operators in the United States in terms
of volumes delivered, with approximately 6,000 miles of
pipeline. Buckeye also uses its service expertise to operate
and/or maintain third-party pipelines and perform certain
engineering and construction services for its customers.
Additionally, Buckeye is one of the largest independent
terminalling and storage operators in the United States in terms of
capacity available for service. Buckeye’s terminal network
comprises more than 120 liquid petroleum products terminals with
aggregate storage capacity of over 115 million barrels across
our portfolio of pipelines, inland terminals and marine terminals
located primarily in the East Coast, Midwest and Gulf Coast regions
of the United States and in the Caribbean. Buckeye’s network
of marine terminals enables it to facilitate global flows of crude
oil and refined petroleum products, offering its customers
connectivity between supply areas and market centers through some
of the world’s most important bulk liquid storage and blending
hubs. Buckeye’s flagship marine terminal in The Bahamas,
Buckeye Bahamas Hub, is one of the largest marine crude oil and
refined petroleum products storage facilities in the world and
provides an array of logistics and blending services for the global
flow of petroleum products. Buckeye’s Gulf Coast regional
hub, Buckeye Texas Partners, offers world-class marine
terminalling, storage and processing capabilities. Buckeye’s
50% equity interest in VTTI B.V. expands its international
presence, with premier storage and marine terminalling services for
petroleum products in key global energy hubs, primarily in
Northwest Europe, the United Arab Emirates and Singapore.
Buckeye is also a wholesale distributor of refined petroleum
products in areas served by its pipelines and terminals. More
information concerning Buckeye can be found at www.buckeye.com.
Contact: Kevin J. Goodwin
Vice President & Treasurer
irelations@buckeye.com
(800) 422-2825
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