Holly Energy Partners and Holly Corporation Close Previously Announced Pipelines Transaction; Holly Energy Privately Sells 1.1 Million Common Units as Part of Financing for Pipelines Transaction.

PR Newswire | July 11, 2005 | Copyright

DALLAS, July 11 /PRNewswire-FirstCall/ -- Holly Energy Partners, L.P. ("Holly Energy" or the "Partnership") and Holly Corporation ("Holly") today announced that Holly Energy has acquired Holly's intermediate feedstock pipelines connecting its Lovington, NM and Artesia, NM refining facilities in a transaction valued at $81.5 million, which consisted of approximately $77.7 million in cash, 70,000 in common units of Holly Energy and a capital account credit to maintain Holly's current general partner interest in Holly Energy. As previously announced on June 10, 2005, the ...

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