Buckeye issued 1,095,722 of its Class B units and 620,861 of its LP units to Vopak as part of the partial consideration for Vopak’s interest in FRBCH.
Earlier, on 18 January 2011, Buckeye acquired its initial 80% interest in BORCO from affiliates of FRC Founders Corp.
With this latest acquisition, the US based company has completed the 100% acquisition of BORCO.
In the aggregate, Buckeye paid $1.7bn in a combination of cash and equity to acquire BORCO.
Buckeye chairman and CEO Forrest Wylie said that the company has been working with Vopak to transition BORCO operations to Buckeye and is pleased with the integration efforts to date.
