Fri, Jul. 15, 7:54 AM
- CrossAmerica Partners (NYSE:CAPL) agrees to acquire assets of State Oil Co., one of the largest fuel distributors in Illinois, for $45M.
- CAPL says the locations sell more than 60M gallons of fuel annually through supply contracts with Marathon, Citgo, Phillips 66, Mobil, BP, Shell and others.
- CAPL expects the acquisition to be accretive to distributable cash flow.
Dec. 10, 2014, 5:58 PM
- CrossAmerica Partners (NYSE:CAPL) agrees to acquire Erickson Oil Products, operator of 64 convenience stores and gasoline stations located in Minnesota and some surrounding states, for $85M.
- For the year ending Oct. 31, the stores sold ~68M gallons of motor fuel and totaled ~$95M in non-fuel revenue.
- CAPL initially intends to operate the convenience stores within the partnership and expects to transfer the operation of certain sites over time to its CST Brands (NYSE:CST) parent.
Aug. 6, 2014, 6:55 PM
- CST Brands (NYSE:CST) agrees to acquire the membership interests of Lehigh Gas GP, the general partner of Lehigh Gas Partners (NYSE:LGP), for cash and stock valued at ~$85M.
- CST, a retailer of motor fuels and convenience merchandise, expects the deal will provide access to capital through a growth-oriented MLP vehicle to execute its long-term strategic plan.
- The deal does not involve any of the common or subordinated units of LGP, which will continue to operate as a separate, publicly-traded MLP.
- Also, CST's board authorizes the repurchase of $200M of company shares.
- CST +14.8%, LGP +11.6% AH.
May 1, 2014, 4:36 PM| May 1, 2014, 4:36 PM
CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, consisting of gasoline and diesel fuel and to own and lease real estate used in the retail distribution of motor fuels. It focuses on owning and leasing sites primarily located in metropolitan and urban areas. The... More
Sector: Basic Materials
Industry: Oil & Gas Equipment & Services
Country: United States
Other News & PR