SemFuel Terminal to be Sold

Posted on Tuesday, June 30th, 2009 at 2:16 am    

The SemFuel gasoline terminal in Des Moines will likely be sold to Magellan Pipeline Co. The terminal, along with a terminal in El Dorado, KS and storage sites in Glenpool and Tulsa, OK, would sell to Magellan for $23 million.

The sale is still subject to an auction. The sale of SemFuel will allow its parent company, SemGroup, to pay off creditors to some degree. This will also be SemGroup's second major sale.

If you need help with acquisitions, contact the Des Moines business attorneys of LaMarca Law Group, P.C., PC at (877) 327-2600.

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