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BUSINESS BRIEFS.(TO THE POINT)
ENERGY
Valero to buy petrol storage firms
The independent petroleum refiner agreed to pay $2.3 bil for Kaneb Services and Kaneb Pipe Line Partners. Valero has offered to pay $43.31 a share in cash for Kaneb Services and $61.50 a share in stock for Kaneb Pipe Line Partners. The deal should make Valero the largest operator of petroleum storage. Valero will also assume debt, bringing the deal value to $2.8 bil. Valero shares rose 2% to 57.21, Kaneb Services jumped 36% to 42.60, and Kaneb Pipe Line increased 13.5% to 57.60.
Yukos struck with new tax claim
Russian tax authorities slapped the oil giant and its main production unit with 2 new tax claims for nearly $10 bil, raising Yukos' total bill to more than $17.6 bil, reported Interfax news agency. The move likely brings the sale of the unit, Yuganskneftegaz, a step closer. Also, J.P. Morgan Chase gave the unit a valuation far above the government's starting price for a sale.
RETAIL
Toys "R' Us starts holiday price war
- Kaneb Services Comments on Market Reactions to Kaneb Pipe Line Partners Trial...
- Press release article from: PR Newswire June 21, 2000 700+ words
...Executive Officer of Kaneb Services, Inc. (NYSE...reactions to the Kaneb Pipe Line Partners...conference call by Kaneb Pipe Line Company Chairman...pipeline case. Kaneb Services, through Kaneb Pipe Line Company as...
- Pipe Activity Boosts Kaneb.(Kaneb Services, Kaneb Pipe Line Partners)(Brief...
- Newspaper article from: The Oil Daily February 27, 2003 700+ words
...results for its two operating entities, Kaneb Services and Kaneb Pipe Line Partners. For 2002, Kaneb Services reported net income of $47.2 million...million ($2.46/share) for 2001. Kaneb Pipe Line Partners reported net income for...
- Valero LP to acquire Kaneb Services LLC and Kaneb Pipe Line Partners LP.
- News wire article from: Asia Africa Intelligence Wire November 1, 2004 700+ words
...Release) Valero LP, Kaneb Services LLC and Kaneb Pipe Line Partners LP have...will also acquire all of Kaneb Services' equity securities for...publicly traded entities are Kaneb Services LLC and Kaneb Pipe Line Partners LP.
- Valero L.P. To Acquire Kaneb Services LLC and Kaneb Pipe Line Partners, L.P.
- Press release article from: Business Wire November 1, 2004 700+ words
...P. (NYSE:VLI), Kaneb Services LLC (NYSE:KSL) and Kaneb Pipe Line Partners, L.P...will also acquire all of Kaneb Services' equity securities for...Corporation (NYSE:VLO). Kaneb Services and Kaneb Partners will...
- Kaneb Services LLC AND Kaneb Pipe Line Partners, L.P. Announces Earnings...
- Press release article from: Business Wire October 29, 2003 700+ words
...29, 2003 The KANEB Companies, Kaneb Pipe Line Partners, L.P. (NYSE: KPP) and Kaneb Services LLC (NYSE: KSL) announced today...Services LLC (NYSE: KSL) and Kaneb Pipe Line Partners, L.P., (NYSE...
- Kaneb Services LLC and Kaneb Pipe Line Partners, L.P. Announces Earnings...
- Press release article from: Business Wire February 26, 2003 700+ words
...26, 2003 The KANEB Companies, Kaneb Pipe Line Partners, L.P. (NYSE:KPP) and Kaneb Services LLC (NYSE:KSL) today announce...Services LLC (NYSE:KSL) and Kaneb Pipe Line Partners, L.P., (NYSE...
- Kaneb Services LLC and Kaneb Pipe Line Partners, L.P. Announces 1Q 2004...
- Press release article from: Business Wire May 3, 2004 700+ words
...3, 2004 The KANEB Companies, Kaneb Pipe Line Partners, L.P. (NYSE:KPP) and Kaneb Services LLC (NYSE:KSL) announced today...Services LLC (NYSE:KSL) and Kaneb Pipe Line Partners, L.P., (NYSE...
- KANEB Increases Cash Distributions; $0.12 Annual Increase to Kaneb Pipe Line...
- Press release article from: Business Wire October 23, 2003 700+ words
...traded entities are Kaneb Services LLC (NYSE:KSL) and Kaneb Pipe Line Partners...Partnership"). Kaneb Services LLC was formed...previously held by Kaneb Services, Inc. (now Xanser...owned subsidiary, Kaneb Pipe Line Company LLC...
- KANEB Increases Cash Distributions; $0.08 Annual Increase to Kaneb Pipe Line...
- Press release article from: Business Wire March 13, 2003 700+ words
...publicly traded entities are Kaneb Services LLC (NYSE:KSL) and Kaneb Pipe Line Partners, L.P...the Partnership"). Kaneb Services LLC is a unique limited...wholly owned subsidiary, Kaneb Pipe Line Company LLC, KSL manages...
- Valero LP closes Kanab deal.(Kaneb Services, Kaneb Pipe Line Partners )(Brief...
- Newspaper article from: The Oil Daily July 5, 2005 700+ words
Valero LP on Friday said it has completed its acquisition of Kaneb Services and Kaneb Pipe Line Partners for a total transaction value of nearly $2.7 billion. Valero said it will recommend to its board of directors...