LONDON – Bracewell (UK) LLP has advised SemGroup Europe Holding L.L.C., a subsidiary of SemGroup Corporation, on the sale of its entire interest in SemLogistics Milford Haven Limited (“SemLogistics”) to Valero Logistics UK Limited, a subsidiary of Valero Energy Corporation.
SemLogistics is a petroleum terminal and storage business located in Milford Haven, South Wales. The company has 53 commercial tanks for the storage of refined petroleum products, including kerosene, jet fuel, gasoline/blend components and diesel. SemGroup’s sale of the business is part of a larger strategy that will allow SemGroup to focus on the North American midstream sector.
Completion of the deal is expected by the end of the third quarter of 2018, subject to the satisfaction of certain conditions and approvals.
Bracewell lawyers involved in the transaction included:
Partners: Darren Spalding and Adam Blythe
Senior Associate: Lauren Kelsall