Valero Energy Partners, based in San Antonio, will receive the outstanding membership interests in Valero Partners Houston LLC and Valero Partners Louisiana LLC.
The terminal is strategically positioned to serve as a crude oil logistics hub in the Williston Basin.
Headlines for Boardwalk this time last year were brutal, but that seems set to change.
The Houston-based company said it entered into an agreement on Feb. 24 to buy the remaining 30% interest in GTN from TransCanada.
Enterprise will continue to serve as operator of the Panola Pipeline and own the remaining 55% interest.
Gulf Coast refiners could be in the running as assets offer more power over supply chain..
The enterprise was valued at about 7x adjusted EBITDA with customary debt and working capital adjustments that resulted in a cash payment of about $52.6 million.
In October, Atlas and Targa announced that the companies had agreed to a $7.7 billion merger.
Their joint venture has shortlisted several investment banks to conduct a study on a sale of the pipeline that connects inland gas fields to the LNG plant in Queensland state.
The acquisition will not close until the Joliet Terminal becomes commercially operable.
Magnum Development owns and operates a natural gas liquids storage facility near Salt Lake City.
The transaction is scheduled to close in March.