Valero Energy Partners (VLP) Misses Q3 EPS by 6c, Miss on Revenues
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Valero Energy Partners (VLP) to Buy Port Arthur Terminal Assets and Parkway Pipeline LLC from Valero Energy (VLO) for $508M
October 26, 2017 6:47 AM EDTValero Energy Partners LP (NYSE: VLP) (the Partnership) today announced that the board of directors of its general partner has approved the Partnerships acquisitions of the Port Arthur terminal assets and Parkway Pipeline LLC (Parkway Pipeline) from Valero Energy Corporation (NYSE: VLO) (Valero) for total consideration of $508 million. In the first twelve months of operation, the acquired operations are expected to contribute a total of approximately $24 million and $60 million of net income and EBITDA, respectively. The transaction is expected to close effective November 1, 2017.
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