Lehigh Gas Partners LP: Completes the Acquisition of 33 Sites in the Knoxville, Tennessee Region
(Thomson Reuters ONE) -
Lehigh Gas Partners LP Completes the Acquisition of 33 Sites in the Knoxville,
Tennessee Region
ALLENTOWN, PA (September 25, 2013) - Lehigh Gas Partners LP (NYSE: LGP) (the
"Partnership") announced today that it completed the previously announced asset
acquisition in the Knoxville, Tennessee region from Rocky Top Markets, LLC and
Rocky Top Properties, LLC. The Partnership paid $10.6 million at closing for
the purchase of one (1) fee property site, three (3) leasehold motor fuel
stations, seven (7) third party supply contracts and certain other assets and
equipment. Concurrent with the closing, the Partnership entered into a master
lease for 29 motor fuel stations, which it will purchase on or after August
1, 2015 for $26.3 million. The transaction was financed under the Partnership's
credit facility.
About Lehigh Gas Partners
Lehigh Gas Partners, headquartered in Allentown, PA, is a leading wholesale
distributor of motor fuels and owner and lessee of real estate used in the
retail distribution of motor fuels. Formed in 2012, Lehigh Gas Partners owns or
leases more than 500 sites in eleven states: Pennsylvania, New Jersey, Ohio,
Florida, New York, Massachusetts, Kentucky, New Hampshire, Maine, Tennessee and
Virginia. The company is affiliated with several major oil brands, including
ExxonMobil, BP, Shell, Chevron, Sunoco and Valero. LGP ranks as one of
ExxonMobil's largest distributors by fuel volume in the United States and in the
top 10 for many additional brands. For additional information, please
visit www.lehighgaspartners.com.
Forward-Looking Statements
Except for the historical information and discussions contained herein,
statements contained in this release may constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995.
Achieving the results described in these statements involves a number of risks,
uncertainties and other factors that could cause actual results to differ
materially, as discussed in Lehigh Gas Partner LP's filings with the Securities
and Exchange Commission. Lehigh Gas Partners LP disclaims any obligation to
update or revise any forward-looking statements.
###
CONTACTS:
INVESTORS:
Karen Yeakel
Vice President, Investor Relations
Lehigh Gas Partners
610-625-8126
kyeakel(at)lehighgas.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Lehigh Gas Partners LP via Thomson Reuters ONE
[HUG#1731478]
Unternehmensinformation / Kurzprofil:
Datum: 25.09.2013 - 22:50 Uhr
Sprache: Deutsch
News-ID 300357
Anzahl Zeichen: 3301
contact information:
Town:
Allentown
Kategorie:
Business News
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