WALTHAM, Mass.--(BUSINESS WIRE)--Oct. 7, 2009--
Global Partners LP (NYSE: GLP), a leading wholesale supplier of refined
petroleum products in the Northeast, today announced that the Federal
Trade Commission (“FTC”) has commenced a regulatory review of the
Partnership’s planned acquisition of three refined petroleum terminal
facilities in Newburgh, New York from Warex Terminals Corporation. The
Partnership has met with FTC staff and has been advised that the FTC
will issue a subpoena requiring the Partnership to produce information
regarding the acquisition. The Partnership will continue to cooperate
with the FTC during its review. The Partnership cannot predict the
outcome of the review or its effect on the transaction. Closing of the
$47.5 million transaction remains subject to the receipt of certain
regulatory approvals and various other customary closing conditions.
About Global Partners LP
Global
Partners LP, a publicly traded master limited partnership based in
Waltham, Massachusetts, owns, controls and has access to one of the
largest terminal
networks of refined
petroleum products in the Northeast. The Partnership is one of the
largest wholesale distributors of gasoline,
distillates (such as home
heating oil, diesel
and kerosene) and residual
oil to wholesalers, retailers and commercial customers in the
region. Global Partners LP, a FORTUNE 500® company, trades on
the New York Stock Exchange under the ticker symbol “GLP.” For
additional information, please visit www.globalp.com.
Forward-looking Statements
This news release contains certain “forward-looking statements” within
the meaning of the federal securities laws. These forward-looking
statements are identified as any statements that do not relate strictly
to historical or current facts and can generally be identified by the
use of forward-looking terminology including “will,” “may,” “believe,”
“expect,” “anticipate,” “estimate,” “continue” or other similar words.
Such statements may discuss business prospects, goals, new developments
and future expectations or contain projections of results of operations,
financial condition and Global Partners LP’s ability to make
distributions to unitholders. These statements are not guarantees of
performance. Although Global Partners LP believes these forward-looking
statements are based on reasonable assumptions, statements made
regarding future results are subject to a number of assumptions,
uncertainties and risks, many of which are beyond the control of Global
Partners LP, which may cause actual results to be materially different
from the forward-looking statements contained in this news release. For
specific risks and uncertainties that could cause actual results to
differ materially from forward-looking statements, please refer to
Global Partners LP’s Annual Report on Form 10-K for the year ended
December 31, 2008, Quarterly Report on Form 10-Q for the three months
ended June 30, 2009 and subsequent filings the Partnership makes with
the Securities and Exchange Commission. All forward-looking statements
included in this news release and all subsequent written or oral
forward-looking statements attributable to Global Partners LP or persons
acting on its behalf are expressly qualified in their entirety by these
cautionary statements. The forward-looking statements speak only as of
the date made, and Global Partners LP undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Source: Global Partners LP
Global Partners LP
Thomas J. Hollister, 781-894-8800
Chief
Operating Officer and
Chief Financial Officer
or
Edward
J. Faneuil, 781-894-8800
Executive Vice President,
General
Counsel and Secretary