WALTHAM, Mass., Oct. 14 /PRNewswire-FirstCall/ -- Global Partners LP (NYSE: GLP - News), one of the largest wholesale distributors of distillates, gasoline, and residual oil and bunker fuel to wholesalers, retailers and commercial customers in New England, today announced that Chairman Alfred Slifka and Vice Chairman Richard Slifka will ring the opening bell at the New York Stock Exchange on Monday, October 17 to celebrate the completion of the company's recent initial public offering.
"As a commemoration of our IPO, ringing the NYSE's opening bell signifies an important milestone for the company," said President and Chief Executive Officer Eric Slifka. "Our listing on the NYSE gives Global Partners visibility and credibility with the investment community, enhances the company's access to the capital markets and provides liquidity and flexibility for our unitholders."
Global Partners completed its initial public offering on October 4, 2005, selling 5,635,000 common units at $22 per unit, including 735,000 common units purchased by the underwriters pursuant to the exercise of their over-allotment option, representing a 48.9% limited partner interest in Global Partners. Affiliates of the Slifka family retained a 51.1% interest in Global Partners, including the 2% general partner interest.
About Global Partners LP
Global Partners is a Delaware limited partnership formed by affiliates of the Slifka family. Global Partners is a terminal owner/operator and one of the largest wholesale distributors of distillates (such as home heating oil, diesel and kerosene), gasoline, and residual oil and bunker fuel to wholesalers, retailers and commercial customers in New England.
This press release may include "forward-looking statements" as defined by the Securities and Exchange Commission. All statements other than statements of historical facts included in this press release that address activities, events or developments that Global Partners expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by Global Partners based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Global Partners, which may cause our actual results to differ materially from those implied or expressed by the forward-looking statements. Among the factors that could cause results to differ materially are those risks discussed in Global Partners' Registration Statement on Form S-1 filed with the Securities and Exchange Commission in connection with its initial public offering.
Edward Faneuil
Executive Vice President, General Counsel and Secretary
Global Partners LP
781-894-8800
Thomas A. McManmon Jr.
Executive Vice President and Chief Financial Officer
Global Partners LP
(781) 894-8800
Source: Global Partners LP