Buckeye Partners to acquire three marine terminals of Magellan Midstream Partners from $250m.

Buckeye Partners, a distributor of petroleum, agreed to acquire three marine terminals of Magellan Midstream Partners, a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil, from $250m. The terminals are located in New Haven, Connecticut, Wilmington, Delaware and Marrero, Louisiana. "Magellan remains focused on capital discipline and managing our business for the long term. Optimization of our asset portfolio, including divestiture of facilities outside our strategic footprint, is an important element to maximize unitholder value and our strong financial position," Michael Mears, Magellan Midstream CEO.