Western Refining Logistics To Buy Wholesale Business For $360 Mln

(RTTNews) - Western Refining Logistics LP (WNRL) Thursday agreed to buy Western Refining Inc's (WNR) southwest wholesale business for $360 million, payable in cash and WNRL common partnership units. The deal is expected to close on or about October 15.

WNR's southwest wholesale business includes fuel sales of about 79,000 barrels per day to third party customers and to WNR's retail and unmanned cardlock locations; a growing crude oil trucking operations in the expanding Permian and San Juan basins; and a lubricant products distribution business.

Upon closing, WNR and WNRL plan to enter into 10-year fuel supply and crude oil trucking agreements containing certain minimum volume commitments by WNR. The southwest wholesale business is expected to contribute EBITDA of about $40 million in 2015.