Valero Energy Partners has acquired the terminals that serve Valero’s refineries in Meraux, Louisiana, and Three Rivers, Texas, for $325 million. The acquired assets include 24 tanks with 3.9 million of storage capacity for oil, intermediates and refined products at Meraux and 62 tanks with 2.2 million barrels of storage at Three Rivers. Valero Energy Partners plans to enter 10-year terminaling agreements with a subsidiary of Valero upon closing the deal.
Valero CEO Joe Gorder said the deal would expand the partnership’s Gulf Coast footprint and achieve its acquisition target for the year.
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