Acquisition of a Portfolio of Logistics Assets from Andeavor

Energy
Acquisition of a Portfolio of Logistics Assets from Andeavor

Summary

Baird served as financial advisor and provided a fairness opinion to the Conflicts Committee of the Board of Directors of the General Partner of Andeavor Logistics LP

About

Andeavor Logistics LP (the “Partnership”) (NYSE: ANDX) and Andeavor (NYSE: ANDV) recently announced that the Partnership acquired a portfolio of logistics assets from Andeavor for total consideration of $1,550 million. The assets included in the transaction are gathering, storage and transportation assets in the Permian Basin, including the RIO Pipeline; legacy Western Refining assets and associated crude terminals; and the majority of Andeavor's remaining refining terminalling, transportation and storage assets. The transaction also includes the Conan Crude Oil Gathering System and the Los Angeles Refinery Interconnect Pipeline.

The Partnership is a fee-based, full-service, diversified midstream logistics company, with integrated assets across the western and mid-continent regions of the United States. It operates through three business segments: Terminalling and Transportation, Gathering and Processing and Wholesale. The Partnership is headquartered in San Antonio, Texas.

Andeavor is a premier, highly integrated marketing, logistics and refining company. Andeavor's retail-marketing system includes approximately 3,330 stations marketed under multiple well-known fuel brands, including ARCO, SUPERAMERICA, Shell, Exxon, Mobil, Tesoro, USA Gasoline and Giant. Andeavor operates 10 refineries with a combined capacity of approximately 1.2 million barrels per day in the mid-continent and western United States. Andeavor is headquartered in San Antonio, Texas.
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Energy
Acquisition of a Portfolio of Logistics Assets from Andeavor
Date
August 2018
Company
Andeavor Logistics LP
Transaction
M&A
Sectors
Energy
Target Location
North America
Acquiror Location
North America

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