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Stock Market & Financial Investment News

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December 11, 2013
13:56 EDTHES, BPLBuckeye Partners completes $850M terminal buy from Hess
Buckeye Partners (BPL) announced that it has completed its purchase of 20 liquid petroleum products terminals with total storage capacity of approximately 39M barrels for $850M from Hess Corporation (HES). This acquisition increases Buckeye's total liquid petroleum storage capacity by approximately 53% to over 110M barrels. Buckeye says it expects the transaction to be immediately accretive to its distributable cash flow per unit, excluding transition-related expenses.
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