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BRIEF-Inter Pipeline Announces Acquisition Of Bulk Liquid Storage Business

Published 2018-10-30, 10:56 a/m
© Reuters.  BRIEF-Inter Pipeline Announces Acquisition Of Bulk Liquid Storage Business
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Oct 30 (Reuters) - Inter Pipeline Ltd IPL.TO :

* INTER PIPELINE ANNOUNCES ACQUISITION OF MULTINATIONAL EUROPEAN BULK LIQUID STORAGE BUSINESS

* INTER PIPELINE LTD - DEAL FOR USD$270 MILLION

* INTER PIPELINE LTD - DEAL INCREASES INTER TERMINAL'S STORAGE CAPACITY BY APPROXIMATELY 33 PERCENT TO 37 MILLION BARRELS

* INTER PIPELINE LTD - NO THIRD PARTY DEBT WILL BE ASSUMED UNDER TERMS OF TRANSACTION

* INTER PIPELINE LTD - EXPECTS ACQUIRED BUSINESS TO GENERATE ABOUT CAD$40 MILLION IN AVERAGE ANNUAL EBITDA, OVER NEXT SEVERAL YEARS

* INTER PIPELINE - DEAL FUNDING TO BE PROVIDED BY COMMON SHARE ISSUANCE & AVAILABLE CAPACITY ON ITS COMMITTED REVOLVING CREDIT FACILITY

* INTER PIPELINE LTD - TO ACQUIRE 100 PERCENT OF ISSUED SHARE CAPITAL OF NUSTAR ENERGY, L.P.'S EUROPEAN BULK LIQUID STORAGE BUSINESS

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