Usd Partners Lp Announces Acquisition Of Hardisty South Terminal Assets From Usd Group Llc And Idr Elimination
Acquiring Company
USD Partners
Acquired Company
Hardisty South Terminal Assets
HoustonEnergySustainabilityNatural ResourcesTransportationDescription
USD Partners LP (NYSE: USDP) (the “Partnership”) today announced it has entered into an agreement to acquire entities owning the Hardisty South terminal assets (“Hardisty South”) from USD Group LLC (“USDG” or the “Sponsor”), exchange the Sponsor’s economic general partner interest in the Partnership (“GP Interest”) for a non-economic GP Interest and eliminate the Sponsor’s incentive distribution rights (“IDRs”) in the Partnership for total consideration of $75 million in cash and approximately 5.75 million common units (the “Transaction”). The cash portion of the Transaction is expected to be funded with borrowings under the Partnership’s $275 million senior secured credit facility.
Quick answer
USD Partners is acquiring Hardisty South Terminal Assets, announced March 28, 2022. USD Partners is based in Houston, Texas, United States.
- How much did USD Partners pay for Hardisty South Terminal Assets?
- The deal value was not disclosed.
- What does USD Partners do?
- USD Partners LP is a fee-based, growth-oriented master limited partnership formed in 2014 by USDG to acquire, develop and operate midstream infrastructure and complementary logistics solutions for crude oil, biofuels..
- Where are USD Partners and Hardisty South Terminal Assets based?
- USD Partners is based in Houston, Texas, United States.
Source: Fundz verified event record.
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Frequently asked
Who acquired Hardisty South Terminal Assets?
Hardisty South Terminal Assets was acquired by USD Partners, based in Houston. The deal was reported on March 28, 2022. USD Partners is privately held and operates in Energy.
When did USD Partners acquire Hardisty South Terminal Assets?
USD Partners's acquisition of Hardisty South Terminal Assets was reported on March 28, 2022. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Hardisty South Terminal Assets do?
Hardisty South Terminal Assets is the company acquired in this transaction. It is privately held.
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