IFM Investors has completed the previously-announced acquisition of midstream operator Buckeye Partners in an all-cash transaction.
The buy was valued at a $10.3 billion enterprise value and a $6.5 billion equity value.
With 6,000 miles of pipeline, more than 100 delivery locations and 115 liquid petroleum products terminals, the buyout will add one of the largest diversified networks of integrated midstream assets to IFM’s substantial investments in energy infrastructure across North America, according to IFM.
Buckeye also operates a network of marine terminals, located primarily in the East and Gulf Coast regions of the United States, as well as in the Caribbean.
“Buckeye represents a natural extension of IFM’s expertise in investing in, operating and growing essential midstream energy infrastructure in North America,” said Jamie Cemm, executive d
