Valero Energy Corporation and Valero Energy Partners announce completion of merger

Valero Energy Corporation and Valero Energy Partners (the Partnership) have announced the completion of the previously announced merger between the Partnership and a wholly owned subsidiary of Valero, pursuant to which Valero acquired all of the outstanding common units of the Partnership not already owned by Valero and its subsidiaries.

The transaction value was approximately $950m. 

The closing of the merger comes after a strong third quarter for the parent company. Valero made a profit of more than $850m in the third quarter, which the company said was due to discounts on domestic crude oil over foreign crude oil and strategic pipelines.

For more information visit www.valeroenergypartners.com

22nd January 2019