Notable Mergers and Acquisitions of the Day 8/3: HEP/HOC, PSEC/PCAP, GRB - Street Insider

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Notable Mergers and Acquisitions of the Day 8/3: HEP/HOC, PSEC/PCAP, GRB
Aug 03, 2009 02:09 PM UTC

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Via StreetInsider.com News Articles:

Holly Energy Partners, L.P. (NYSE: HEP) and Holly Corporation (NYSE: HOC) announced the August 1, 2009 acquisition by Holly Energy from Holly of certain truck and rail loading/unloading facilities located at Holly's Tulsa, Oklahoma refinery.

The purchase price for these facilities was $17.5 million which was paid in cash. The acquisition was financed through Holly Energy's revolving credit facility. Holly Energy expects this acquisition will result in approximately $2.7 million of incremental annual revenue.

In connection with this transaction, Holly and Holly Energy have entered into a 15-year Equipment and Throughput Agreement. Holly will pay Holly Energy a per barrel fee

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