In consideration, Global Partners issued 5,850,000 limited partner units and assumed long-term debt, subject to post-closing adjustments, of approximately $180m.
Alliance’s portfolio includes approximately 540 gasoline stations in New England, New York, New Jersey and Pennsylvania. Alliance owns or has long-term leases on approximately 253 sites and has supply contracts for the remaining stations.
In conjunction with the closing, Alliance president, Andrew Slifka, has joined Global Partners as president of the partnership’s service station, C-store and related supply division. In addition, Slifka will become a member of the board of directors of Global GP in the second quarter of 2012.
Source: Global Partners
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