Deal Snapshot
HOLLY ENERGY PARTNERS TO ACQUIRE REMAINING INTERESTS IN FRONTIER, SLC PIPELINES FOR USD 250M IN CASH
Friday 11 August 2017

US-based midstream MLP Holly Energy Partners, L.P. (NYSE: HEP) has entered into definitive agreements to acquire a 50% interest in Frontier Aspen LLC, the owner of the Frontier Aspen Pipeline, and a 75% interest in the SLC Pipeline LLC, the owner of the Salt Lake City Pipeline, from affiliates of Plains All American Pipeline, L.P. (NYSE: PAA) for an aggregate purchase price of USD 250m in cash, the company said.
Holly Energy currently owns 50% of Frontier and 25% of SLC. As a result, following the transactions, SLC and Frontier will be wholly-owned subsidiaries of Holly Energy. The Frontier Aspen Pipeline is a 289-mile crude pipeline from Casper, Wyoming to Frontier Station, Utah that supplies Canadian and Rocky Mountain crudes to Salt Lake City area refiners through a connection to the SLC Pipeline.


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Details
Date Published: 11/08/2017
Target: 50% interest in the owner of the Frontier Aspen Pipeline and a 75% interest in the owner of the Salt Lake City Pipeline
Country: USA
Deal Size: 250m (USD)
Sector: Petroleum/Natural Gas/Coal
Type: Corporate acquisition
Financing: Cash
Status: Agreed
Vendor: Affiliates of Plains All American Pipeline
Buyer: Holly Energy Partners
Comment:


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