UNEV

AcronymDefinition
UNEVUrticaria Network eV (German)
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Petroleum company Holly Energy Partners LP (NYSE:HEP) reported on Thursday the completion of the acquisition of HollyFrontier Corporation's (NYSE:HFC) 75% interest in UNEV Pipeline LLC for a purchase price of USD315m, subject to certain post-closing purchase price adjustments.
US petroleum refiner HollyFrontier Corp (NYSE:HFC) has closed the sale of its 75% stake in UNEV Pipeline LLC to petroleum and crude oil transportation company Holly Energy Partners LP (NYSE:HEP) for USD315m (EUR258.
UNEV currently owns a refined products pipeline stretching from Woods Cross, the state of Utah, to Las Vegas, Nevada.
US petroleum refiner HollyFrontier Corporation (NYSE:HFC) said its board had given the thumbs-up to the planned sale of a 75% stake in UNEV Pipeline LLC to pipeline operator Holly Energy Partners LP (NYSE:HEP) for USD315m (EUR250.
UNEV expects mechanical completion of the pipeline in early 2011 with service to begin later in 2011.
The UNEV Pipeline will be a common carrier system that will offer refiners in the Salt Lake City area, as well as shippers into Salt Lake City on the Pioneer Pipeline, the ability to transport refined products to Las Vegas and the fast-growing areas of southwest Utah.