Buckeye concludes $860M buyout; Trafigura AG keeps 20%Buckeye concludes $860M buyout; Trafigura AG keeps 20%https://www.recenter.tamu.edu/news/newstalk-texas/?Item=30352014-09-18T13:49:00Z2014-09-18T00:00:00Z

CORPUS CHRISTI - International trading company Trafigura AG sold 80 percent of its interest in Corpus Christi to Buckeye Partners, a Houston company that specializes in the transportation, storage and marketing of liquid petroleum products.

The transaction was for $860 million.

Under terms of the agreement, Trafigura, a subsidiary of Singapore-based commodities trading giant Trafigura Beheer B.V., will maintain 20 percent interest in Trafigura Terminals and keep commercial rights to use the assets.

Among them are Texas Dock & Rail, a deep-water, high-volume marine terminal located on the Corpus Christi Ship Channel; EF90, a 50,000-barrel condensate splitter and liquefied petroleum gas storage complex; and Trafigura Field Services, its crude-gathering facilities that serve the Eagle Ford shale play

Buckeye Texas Partners LLC is the name of the joint venture.

Trafigura signed a series of seven- to ten-year commercial contracts with the joint venture to transport commodities under a fee-based model. All 100 former Trafigura employees will join Buckeye Texas Partners.

Read more at the Houston Business Journal and Corpus Christi Caller-Times.

San Antonio Business Journal
Corpus Christi
Infrastructure & Transportation
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