Calumet Specialty Products acquires refinery assets from NuStar Energy

The previously announced purchase by Calumet Specialty Products Partners, L.P. of the San Antonio, Texas refinery of NuStar Energy, L.P. was completed on January 2. The acquisition of the refinery included associated crude oil pipeline, crude oil terminal, other operating and logistics assets, as well as inventories of NuStar Refining, LLC and NuStar Logistics, L.P., both wholly owned subsidiaries of NuStar Energy L.P. The US$100 million acquisition price agreed upon was expected to come up to an aggregate amount of approximately US$115 million to include closing date inventory, and is subject to customary purchase price adjustments. The acquisition was primarily funded with loans under Calumet’s senior secured revolving credit facility plus cash on hand.
The San Antonio Assets include a refinery in San Antonio, Texas that produces ultra-low sulfur diesel fuel, jet fuel, specialty solvents, reformates, naphtha and vacuum gas oil, at an approximately production crude oil throughput capacity of 14,500 barrels per day. (January 19, 2013)