Buckeye Partners, Vitol to own VTTI marine terminal business in 50-50 joint venture – HBJ

Houston-based Buckeye Partners LP (NYSE: BPL) will acquire a 50 percent interest in a global marine terminal business for $1.15 billion.The business, VTTI BV, is a Vitol Group company that owns and operates approximately 54 million barrels of petroleum products stored across 13 terminals on five continents. The deal is expected to close in early January, and Buckeye and Vitol will each own 50 percent of VTTI.

Source: Buckeye Partners, Vitol to own VTTI marine terminal business in 50-50 joint venture – Houston Business Journal

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