Kinder Morgan Energy Partners, L.P. announced it has purchased Delta Terminal Services, Inc. for approximately $114 million in cash. The acquisition "represents about half of the transactions we expect to announce in December," said Richard D. Kinder, KMP chairman, and brings to more than $2 billion the company's announced acquisitions this year. The Delta purchase includes two liquid bulk storage terminals in New Orleans, LA, and Cincinnati, OH, providing services to producers of petroleum, chemicals and other products. "This acquisition is a great fit with our recently announced GATX transaction --- in which we acquired 12 terminals across the country --- as it gives us liquids terminals in two new locations, including access to the important Port of New Orleans market," Kinder said. The New Orleans terminal has a storage capacity of 2.5 million barrels, while the Cincinnati terminal holds 500,000 barrels.
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