Valero Energy Partners buys McKee Terminal Services Business

McKee Terminal Services Business has been bought by Valero Energy Partners from a subsidiary of Valero Energy Corporation for $240 million.
The terminal business supports Valero’s McKee refinery and comprises 75 tanks with 4.4 million barrels of storage capacity for crude oil, intermediates and refined petroleum products.
Upon the transaction closing, the partnership plans to enter into a 10-year terminalling agreement with a subsidiary of Valero. The business to be acquired is expected to contribute approximately $28 million of EBITDA in its first 12 months of operation.