Fri, Mar. 27, 9:53 AM
- CrossAmerica Partners (CAPL -0.6%) says Joe Topper will retire as CEO effective Sept. 30 and resign as President effective immediately.
- Jeremy Bergeron, who served as CST Brands' (CST +0.3%) senior VP of integration and development operations, is appointed as CAPL's new President.
- Topper will continue to serve on the boards of both CAPL and CST after he formally steps down as CEO.
Fri, Feb. 27, 7:21 AM| Comment!
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.
Nov. 6, 2014, 7:26 PM| Comment!
Sep. 16, 2014, 9:20 AM
Sep. 15, 2014, 4:37 PM| Comment!
Aug. 7, 2014, 12:47 PM
Aug. 7, 2014, 9:21 AM
Aug. 6, 2014, 7:17 PM| Comment!
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. 6, 2014, 5:35 PM
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May. 1, 2014, 4:36 PM| Comment!
Mar. 7, 2014, 12:11 PM
- Two energy investors presenting at Capital Link's MLP stress the desirability of crude oil and natural gas liquids over natural gas, and the importance of geographic diversity in suggesting six MLPs to buy now.
- Kyri Loupis, head of energy and infrastructure at Goldman Sachs, likes Oiltanking Partners (OILT), Lehigh Gas Partners (LGP) and EQT Midstream Partners (EQM) - smaller MLPs with strong growth prospects, healthy balance sheets and small distribution obligations to general partners.
- Dan Spears, a portfolio manager at Swank Capital, prefers larger pipeline players Access Midstream Partners (ACMP), Energy Transfer Equity (ETE) and NGL Energy Partners (NGL).
Mar. 6, 2014, 4:53 PM| Comment!
Dec. 5, 2013, 9:09 AM
Dec. 4, 2013, 4:30 PM| Comment!
CAPL vs. ETF Alternatives
CrossAmerica Partners LP is engaged in the wholesale distribution of motor fuels, consisting of gasoline and diesel fuel. It also owns and leases real estate used in the retail distribution of motor fuels.
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