Vinson Advises Buckeye On $260M Chevron Facility Buy

Law360, New York (February 10, 2012, 7:38 PM EST) -- A Buckeye Partners LP subsidiary has bought a marine terminal storage facility for liquid petroleum products in Perth Amboy, N.J., from Chevron USA Inc. for $260 million in cash, Buckeye announced Friday.

Buckeye Tank Terminals LLC agreed to acquire the 250-acre facility, which has a tankage capacity of more than 4 million barrels. The facility is accessible by water, pipeline, rail and truck and is only six miles from Buckeye's existing complex in Linden, N.J., the company said.

“This is a milestone acquisition for Buckeye that...
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