InstarAGF acquires U.S. aviation infrastructure assets for $450 mln
InstarAGF Asset Management has acquired jet fuel pipeline and terminal facilities serving U.S. airports from Buckeye Partners LP (NYSE: BPL). Terms weren't disclosed; however, Buckeye, a U.S. oil logistics company, said in a statement that it received cash proceeds of US$450 million. InstarAGF, a Canadian investor in mid-market infrastructure and real assets, said the pipeline and terminal facilities will continue to be operated and maintained by a Buckeye affiliate. President and CEO Gregory Smith said the deal adds "critical, high quality aviation infrastructure assets with utility-like characteristics" to InstarAGF's portfolio.
19 December 2018•3 mins read
