NuStar Energy to buy CITGO Asphalt Refining's asphalt ops

Wed Nov 7, 2007 7:52am EST

Nov 7 (Reuters) - Independent midstream partnership NuStar Energy LP (NS.N) said it agreed to acquire CITGO Asphalt Refining Co's asphalt operations and assets for $450 million plus working capital estimated to be $100 million at closing.

NuStar Energy said it will add two asphalt refineries with a combined throughput capacity of 104,000 barrels per day and three terminals to its existing asphalt business, which includes eight terminals and nearly 2.6 million barrels of storage. (Reporting by Sreerupa Mitra in Bangalore; Editing by Pratish Narayanan)

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