TULSA, Okla. and HOUSTON — Magellan Midstream Partners LP closed the sale of its independent terminals to Buckeye Partners LP, following receipt of the required regulatory approval process.

As announced in June 2021, Magellan agreed to sell its independent terminals network comprised of 26 refined petroleum products terminals with approximately 6 million barrels of storage located primarily in the southeastern U.S. to Buckeye for $435 million.

“These terminals are highly complementary to Buckeye’s existing terminal business and enable us to further strengthen our offering to our valued customers in the southeastern U.S. and nationally,” said Todd Russo, CEO of Buckeye. “The team is excited to integrate these assets into our diversified global terminal network, and we welcome our new team members as we begin what will be a seamless transition for all customers.”

For more information, visit www.magellanlp.com or call (800) 574-MMP1[6671].