SemGroup Looks To Sell Off UK Facility

Law360 (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....
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