US energy business Kinder Morgan Energy Partners plans to acquire four terminals from Missouri-based Slay Industries for $98 million (70.4 million).
The facilities include a liquid bulk terminal and warehousing distribution centre in St. Louis, a marine terminal in Sauget, Illipis, and a transload liquid operation in Muscatine, Iowa.
As part of the deal, Kinder Morgan and Slay Industries have entered into a joint venture agreement at the Kellogg Dock coal bulk terminal in Modoc, Illinois, and the newly created North Cahokia terminal in Sauget, Illinois, which has 175 acres to develop.
All of the assets in Sauget have access to the Mississippi River and five rail carriers.
In addition to the two new joint ventures, Slay Industries will continue to own and operate Slay Transportation, a bulk truck carrier; S. I. Warehousing, which provides full service warehousing, automated packaging, drumming and transload services to and from the Houston Ship Channel; and Archway Fleeting and Harbor Service.