Blog Exposure – Valero Acquires SemLogistics Milford Haven Fuel Storage Facility from SemGroup

Stock Monitor: CVR Energy Post Earnings Reporting

LONDON, UK / ACCESSWIRE / February 27, 2018 / Active-Investors.com has just released a free research report on Valero Energy Corp. (NYSE: VLO) (“Valero”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=VLO as the Company’s latest news hit the wire. On February 24, 2018, the Company announced that its subsidiary, Valero Logistics UK Ltd, has inked an agreement to acquire SemLogistics Milford Haven (“SemLogistics”)’s fuel storage facility on the west coast of Wales, United Kingdom, from SemGroup Corp. The financial details of the agreement remains undisclosed. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for CVR Energy, Inc. (NYSE: CVI), which also belongs to the Basic Materials sector as the Company Valero Energy. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Valero Energy most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Details of the Deal

As per the agreement terms, in addition to the sales price, Valero is required to make potential earn-out payments to SemGroup if certain revenue targets are met in the four years following the close of the transaction. SemGroup intends to use the proceeds from the sale toward its capital raise plan and to pre-fund capital growth projects.
The transaction, expected to close in the third quarter of 2018, is subject to certain customary conditions and regulatory approvals. Valero will retain the UK employees currently engaged in the business to be acquired.
Over 67% of the storage capacity is multiproduct or dual purpose, giving Valero the flexibility to meet customers’ demands in the UK and throughout Northwest Europe. Additionally, SemLogistics will continue to operate as a third-party storage facility, offering storage options for third party customers across the European petroleum markets.

The Facility Complements Valero’s Pembroke Refinery and Fuel Terminal in the UK and Ireland

Joe Gorder, Chairman, President, and Chief Executive Officer (CEO) of Valero, stated that this facility complements the Company’s Pembroke refinery and fuel terminal in the UK and Ireland, making it a natural fit for Valero. Gorder added that this purchase demonstrates Valero’s commitment to Wales and the UK, and it aligns with its strategy to grow the logistics business and reduce secondary costs.

SemLogistics’s Fuel Storage Facility

Situated across the Haven from Valero’s refinery at Pembroke, the facility is one of the largest petroleum products storage facility in the UK with 8.5 million barrels of capacity for storing gasoline, gasoline blend-stocks, naphtha, jet fuel, gas oil, diesel, and crude oil.

Valero Announced Additional Share Repurchase Authorization

On January 23, 2018, Valero’s Board of Directors approved an incremental $2.5 billion share repurchase authorization. The Company has approximately $1.2 billion of repurchase authority available under its previously announced buyback authorization, giving it $3.7 billion available for stock repurchases going forward. The Board also approved an increase in the Company’s regular quarterly cash dividend on common stock from $0.70 per share to $0.80 per share, effective with the quarterly dividend that the Board has declared to be payable on March 06, 2018, to holders of record at the close of business as on February 13, 2018.

About Valero Energy Corp.

Founded in 1980 and based in San Antonio, Texas, Valero, through its subsidiaries, is an international manufacturer and marketer of transportation fuels and other petrochemical products. The Company is an independent petroleum refiner and ethanol producer. The petroleum refineries are located in the United States, Canada, and the United Kingdom, and the ethanol plants are in the Mid-Continent region of the US.

About SemGroup Corp.

Based in Tulsa, Oklahoma, SemGroup is a publicly-traded midstream service Company providing the energy industry the means to move products from the wellhead to the wholesale marketplace. The Company provides diversified services for end-users and consumers of crude oil, natural gas, natural gas liquids, refined products, residual fuel oil, and asphalt.

Stock Performance Snapshot

February 26, 2018 – At Monday’s closing bell, Valero Energy’s stock slightly rose 0.92%, ending the trading session at $93.31.

Volume traded for the day: 2.56 million shares.

Stock performance in the last three-month – up 13.31%; previous six-month period – up 28.36%; past twelve-month period – up 39.85%; and year-to-date – up 1.52%

After yesterday’s close, Valero Energy’s market cap was at $40.96 billion.

Price to Earnings (P/E) ratio was at 20.25.

The stock has a dividend yield of 3.43%.

The stock is part of the Basic Materials sector, categorized under the Oil & Gas Refining & Marketing industry. This sector was up 0.7% at the end of the session.

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