Calumet Closes Purchase of San Antonio Refinery Assets from NuStar
Calumet Specialty Products Partners, L.P. ("Calumet") (NASDAQ: CLMT) announced today that it completed the previously announced acquisition of the San Antonio, Texas refinery and associated crude oil pipeline, crude oil terminal, other operating and logistics assets and inventories (the "San Antonio Assets") of NuStar Refining, LLC and NuStar Logistics, L.P., both wholly owned subsidiaries of NuStar Energy L.P. (NYSE: NS) on January 2, 2013 for $100 million plus an amount for estimated closing date inventory, for aggregate consideration paid of approximately $115 million, subject to customary purchase price adjustments (the "NuStar Acquisition").
The San Antonio assets include a refinery in San Antonio, Texas with crude oil throughput capacity of approximately 14,500 barrels per day (the "Refinery"). The Refinery produces ultra-low sulfur diesel, jet fuel, specialty solvents, reformates, naphtha and vacuum gas oil.
The NuStar Acquisition was funded primarily with borrowings under Calumet's senior secured revolving credit facility and cash on hand.
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