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BRIEF-Sprague Resources announces acquisition of two refined product terminals on Long Island
March 16, 2017 / 10:28 AM / 6 months ago

BRIEF-Sprague Resources announces acquisition of two refined product terminals on Long Island

March 16 (Reuters) - Sprague Resources Lp -

* Sprague will pay total consideration of approximately $70 million, plus payments for inventory and other customary items

* Sprague Resources Lp announces strategic acquisition of two refined product terminals on Long Island

* Carbo transaction is expected to be accretive to distributable cash flow

* Carbo transaction is expected to be accretive to distributable cash flow

* Consideration is comprised of approximately $30 million of SRLP units to be issued at closing, $10 million in cash paid at closing

* Intends to fund transaction with borrowings from its senior secured credit facility

* Carbo transaction is expected to generate approximately $8 to $10 million of adjusted EBITDA annually. Source text for Eikon: Further company coverage:

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