Valero Energy Corporation and Valero Energy Partners LP Announce Completion of Merger
January 10 2019 - 9:10AM
Valero Energy Corporation (NYSE: VLO) (“Valero”) and Valero Energy
Partners LP (NYSE: VLP) (the “Partnership”) today announced the
completion of the previously announced merger between the
Partnership and a wholly owned subsidiary of Valero, pursuant to
which Valero acquired all of the outstanding common units of the
Partnership not already owned by Valero and its subsidiaries.
Effective January 10, 2019, the Partnership’s
common units will no longer be publicly traded on the New York
Stock Exchange.
About Valero
Valero Energy Corporation, through its
subsidiaries, is an international manufacturer and marketer of
transportation fuels and other petrochemical products.
Valero, a Fortune 50 company based in San Antonio, Texas, with
approximately 10,000 employees, is an independent petroleum refiner
and ethanol producer, and its assets include 15 petroleum
refineries with a combined throughput capacity of approximately 3.1
million barrels per day and 14 ethanol plants with a combined
production capacity of 1.73 billion gallons per year. The
petroleum refineries are located in the U.S., Canada, and the
United Kingdom (“U.K.”), and the ethanol plants are located in the
Mid-Continent region of the U.S. In addition, Valero owns all
of the general partner and limited partner interests in Valero
Energy Partners LP. Valero sells its products in both the
wholesale rack and bulk markets, and approximately 7,400 outlets
carry Valero’s brand names in the U.S., Canada, the U.K., and
Ireland. Please visit www.valero.com for more
information.
About the Partnership
Valero Energy Partners LP is a master limited
partnership formed by Valero Energy Corporation to own, operate,
develop and acquire crude oil and refined petroleum products
pipelines, terminals, and other transportation and logistics
assets. With headquarters in San Antonio, the Partnership’s assets
include crude oil and refined petroleum products pipeline and
terminal systems in the Gulf Coast and Mid-Continent regions of the
U.S. that are integral to the operations of 10 of Valero’s
refineries. Please visit www.valeroenergypartners.com for more
information.
Contacts for Valero and the
Partnership
Investors:
Homer Bhullar, Vice President – Investor
Relations, 210-345-1982
Karen Ngo, Senior Manager – Investor Relations,
210-345-4574
Tom Mahrer, Manager – Investor Relations,
210-345-1953
Media:
Lillian Riojas, Executive Director – Media
Relations and Communications, 210-345-5002
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