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Terminal News

Inter Terminals completes NuStar storage terminals acquisition

Inter Terminals completes NuStar storage terminals acquisition
Inter Terminals has successfully closed the acquisition of NuStar Energy's European bulk liquid storage business for $270 million.

The acquisition increases Inter Terminals' storage capacity by 33% to 37 million barrels. Historically, NuStar Europe has generated stable cash flows underpinned by cost-of-service and fee-based contracts with a diverse range of customers.

The acquisition was funded by the net proceeds from a $200 million common share issuance that closed on November 7 and capacity available on parent company Inter Pipeline's revolving credit facility.



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