Calumet Specialty Products Partners, L.P. Completes Acquisition of the San Antonio, Texas Refinery Assets from NuStar Energy, L.P. for Approximately $115 Million
INDIANAPOLIS, Jan. 2, 2013 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. ("Calumet") (NASDAQ: CLMT) announced today that it completed the previously announced acquisition of the San Antonio, Texas refinery and associated crude oil pipeline, crude oil terminal, other operating and logistics assets and inventories (the "San Antonio Assets") of NuStar Refining, LLC and NuStar Logistics, L.P., both wholly owned subsidiaries of NuStar Energy L.P. (NYSE: NS) on January 2, 2013 for $100 million plus an amount for estimated closing date inventory, for aggregate consideration paid of approximately $115 million, subject to customary purchase price adjustments (the "NuStar Acquisition").
The San Antonio assets include a refinery in San Antonio, Texas with crude oil throughput capacity of approximately 14,500 barrels per day (the "Refinery"). The Refinery produces ultra-low sulfur diesel, jet fuel, specialty solvents, reformates, naphtha and vacuum gas oil.
The NuStar Acquisition was funded primarily with borrowings under Calumet's senior secured revolving credit facility and cash on hand.
Calumet is a master limited partnership and is a leading independent producer of high-quality, specialty hydrocarbon products in North America. Calumet processes crude oil and other feedstocks into customized lubricating oils, solvents, waxes and asphalt used in consumer, industrial, and automotive products. Calumet also produces fuel products including gasoline, diesel and jet fuel. Calumet is headquartered in Indianapolis, Indiana and has eleven plants located in northwest Louisiana, northwest Wisconsin, northern Montana, western Pennsylvania, southeastern Texas and eastern Missouri.
SOURCE Calumet Specialty Products Partners, L.P.