One-Page Deal Sheet
PBF Logistics Acquires East Coast Terminals from Plains AA
PBF Logistics Lp Plains All American Pipeline, L.P.
Announced Date
May 03,2016
Close Date
May 03,2016
Transaction Type
Asset
Transaction Details: Require Private Equity Subscription
PBF Logistics LP announced today that its wholly-owned subsidiary has completed its acquisition of four refined product terminals located in the greater Philadelphia region from an affiliate of Plains All American Pipeline, L.P. for cash consideration of approximately $100 million. This acquisition expands the Partnership's storage and terminalling footprint and introduces third-party customers to the Partnership's revenue base.
PBFX Chief Executive Officer Thomas Nimbley said, "Completing the East Coast Terminals transaction is PBFX's first third-party acquisition, adds meaningful…
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