SemMaterials, L.P. Agrees to Sell Asphalt Terminals and Storage Assets to SemGroup Energy Partners, L.P.
January 14, 2008
SemMaterials, L.P., a subsidiary of SemGroup, L.P., today announced it has agreed to sell 46 U.S. liquid asphalt cement and residual fuel oil terminalling and storage facilities to SemGroup Energy Partners, L.P. (NASDAQ: SGLP) for $378.8 million. The terminalling and storage facilities, located in 23 states, have aggregate storage capacity of approximately 6.6 million barrels. SGLP will provide SemMaterials liquid asphalt cement and residual fuel oil terminalling and storage services under a long-term terminalling and storage agreement.
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