GLOBAL PARTNERS LP (GLP): M&A transaction — Global Partners LP completes $305.8M acquisition of 25 liquid energy terminals from Motiva

GLOBAL PARTNERS LP

Purchased 25 terminals from Motiva for $305.8M cash, funded via revolving credit facility.
Acquisition nearly doubles operating footprint; now owns/leases 49 terminals with ~18.3M barrels shell capacity.
Includes 25-year take-or-pay throughput agreement with Motiva with minimum annual revenue commitments.
Expected EBITDA multiple below 7.0x in second year of ownership; expands access to key pipelines and marine network.

item 2.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

GLOBAL PARTNERS LP completed an acquisition involving Motiva Enterprises LLC for $305.8 million (closed 2023-12-21).

Action: acquisition
Counterparty: Motiva Enterprises LLC
Consideration: $305.8 million
Closing: 2023-12-21

Exact text from the filing

Global Companies LLC will receive minimum annual revenue commitments throughout the term of the MTSA. The purchase-price, subject to post-closing adjustments, was approximately $305.8 million. The Acquisition was funded with borrowings under the Partnership’s revolving credit facility. At the closing, the Partnership assumed certain liabilities and obligations of

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Source: SEC EDGAR

accession 0001157523-23-001856

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