Calumet buying NuStar refinery assets for $115M
INDIANAPOLIS (AP) — Calumet Specialty Products Partners LP is buying NuStar's San Antonio, Texas refinery assets for about $115 million.
Vice Chairman and CEO Bill Grube said that the acquisition will expand the refiner's geographic reach and provide it with a facility located near the Eagle Ford Shale.
Calumet said Monday that the transaction includes the refinery and related crude oil pipeline, crude oil terminal, other operating and logistics assets and inventories of NuStar Refining LLC and NuStar Logistics LP.
NuStar Refining and NuStar Logistics are subsidiaries of NuStar Energy LP.
Calumet, which is based in Indianapolis, said that it plans to finance the transaction with available cash and borrowings under its senior secured revolving credit facility.
The deal is expected to close in January.