Valero Energy Corp (VLO)

[benfrankledger]

$VLO Valero Energy's (NYSE:VLO) U.K. logistics subsidiary agrees to acquire SemGroup's (NYSE:SEMG) SemLogistics Milford Haven fuel storage facility in the U.K. for an undisclosed sum.

VLO says the facility is one of the largest petroleum products storage facility in the U.K., with 8.5M barrels of capacity, and complements its nearby Pembroke refinery and fuel terminals in the U.K. and Ireland.

SEMG says it plans to use the sale proceeds toward its capital raise plan and to pre-fund capital growth projects.