SemGroup Looks To Sell Off UK Facility

Law360, New York (October 15, 2008, 12:00 AM EDT) -- Bankrupt oil distributor SemGroup LP said Tuesday that it would entertain offers to buy a non-bankrupt subsidiary that operates the largest independent fuel storage facility in the United Kingdom.

“The Blackstone Group, SemGroup’s financial adviser, has begun to solicit interest for the facility,” SemGroup said.

The facility, owned by SemLogistics Milford Haven Ltd., is located in Milford Haven on the west coast of Wales. It allegedly provides 8.5 million barrels of commercially active storage capacity and serves markets in Europe, the eastern United States and Africa....
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.