Midstream - Rail & Trucks | Deals - Acquisition, Mergers, Divestitures
Tesoro Sheds Anacortes Rail Assets for $180MM
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Tesoro Corporation and Tesoro Logistics LP has reported that Tesoro Corporation closed the sale of the Anacortes Rail Unloading Facility owned by Tesoro's subsidiary, Tesoro Refining and Marketing Company, to Tesoro Logistics LP for total consideration of $180 million.
"The sale of the Anacortes rail facility marks Tesoro's third sale of assets to the Partnership," said Greg Goff, Tesoro's President and Chief Executive Officer and Tesoro Logistics' Chairman and Chief Executive Officer. "This transaction highlights the ability of Tesoro to leverage TLLP in the growth and development of its logistics business, allowing us to broaden our capability to deliver price advantaged crude oil within the Tesoro refining system, while also increasing cash distributions to the Partnership's…
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