Buckeye Partners $1.15 billion acquisition of VTTI

Overview:

• Petroleum distributor Buckeye Partners has acquired a 50% stake in marine terminal company VTTI from Vitol Investment Partnership in a $1.15 billion deal.
• The other 50% will remain in possession of Vitol, the largest oil trader in the world.
• VTTI owns and manages 13 petroleum terminals.
• The purchase is partially being funded through the offering of 7.5 million partnership units.

Kurt Stumpo - Journalist