Global Partners LP to acquire five refined-products terminals from Gulf Oil for $273M cash

GLOBAL PARTNERS LP

Purchase price of $273M in cash for all equity of five Target Companies owning terminals in CT, NJ, ME, MA.
Aggregate storage capacity of approximately 3.9 million barrels at operating refined-products terminals.
Closing expected in first half of 2023, subject to HSR approval, customary conditions, and pre-closing reorganization.
Partnership will assume certain liabilities; seller retains specified environmental liabilities.
Deal to be financed with borrowings under Global Partners' revolving credit facility.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GLOBAL PARTNERS LP entered into Purchase Agreement with Gulf Oil Limited Partnership valued at $273 million (effective 2022-12-15).

Action: entry
Agreement: asset purchase
Counterparty: Gulf Oil Limited Partnership
Value: $273 million
Effective: 2022-12-15

Exact text from the filing

On December 15, 2022, Global Partners LP (the “ Partnership ”), as Buyer, entered into an Equity Purchase Agreement (the “ Purchase Agreement ”) with Gulf Oil Limited Partnership (the “ Seller ”) pursuant to which the Partnership will acquire all the issued and outstanding equity interests of New Haven NewCo, Woodbury NewCo, Portland NewCo, Linden NewCo and Chelsea NewCo, each as defined in the Purchase Agreement (collectively, the “ Target Companies ”), for a purchase price of $273 million in cash

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Source: SEC EDGAR

accession 0001104659-22-128239

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