U.S. Development Group LLC Closes the Sale of Five Crude Oil Terminalling and Distribution Terminals to Plains All American Pipeline for $500 Million
HOUSTON / December 13, 2012
U.S. Development Group LLC is pleased to announce the closing of its sale of five crude oil handling and distribution terminals, with a total capacity of approximately 225,000 barrels of crude oil and condensate per day, to Plains All American Pipeline, L.P. for $500 million.
U.S. Development Group LLC, a leading North America multimodal logistics company engaged in rail logistics terminalling, as well as designing, developing, owning and managing large-scale rail logistic centers, will continue to expand its network of terminals supporting the oil and gas, petrochemical and related products industries.
Evercore acted as exclusive financial advisor to U.S. Development Group LLC.