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BPL to Acquire 80% Interest in Marine Storage Facility in Freeport, Bahamas
Buckeye Partners, L.P. (“Buckeye”) (NYSE: BPL) announced today that it has signed a definitive agreement to acquire an 80 percent interest in Bahamas Oil Refining Company International (“BORCO”) from affiliates of First Reserve Corporation (“First Reserve”) for $1.36 billion. BORCO is the fourth largest oil and petroleum products storage terminal in the world and the largest petroleum products facility in the Caribbean with current storage capacity of 21.6 million barrels. Buckeye expects to finance the purchase through a combination of equity and debt.

date.png21 Dec 2010 14:29 | comments.png 0 Comments | tags.png bahamas buckeye deals downstream storage [ More ]
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