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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Ken W who wrote (29031)	9/9/2002 1:04:24 PM
From: EGGSHAPE	Read Replies (1) \| Respond to of 29382

Ken....this is what I'd been watching here! SAN ANTONIO (CBS.MW) - Shares of Tesoro Petroleum climbed 15 percent Monday after the petroleum refiner and marketer said it's agreed to sell its Northern Great Plains Products System assets to Williams Energy Partners for $110 million. Shares of the company (TSO) tacked on 63 cents to close at $4.72. Williams Energy Partners' (WEG) stock climbed 65 cents to $35.40. Tesoro said it plans to use the proceeds to pay down a portion of its bank debt, and for general corporate purposes. It estimates that the divested assets provided annual EBITDA (earnings before interest, taxes, depreciation, and amortization) of $12 million to $13 million. The deal is expected to close in mid-October. "We believe the sale of these assets will enhance our ability to access new customers by providing increased logistics flexibility which will permit us to capture new synergies," said Tesoro Chief Executive Bruce A. Smith expected another move by TSO.... nothing else I know of yet, yes, I hauled alot of product for Tesoro out of the Colton Pipeline.... Large storage facility on the edge of the desert... also GATX