GREEN PLAINS PARTNERS LP (NASDAQ:GPP) Files An 8-K Termination of a Material Definitive AgreementItem 1.02. Termination of a Material Definitive Agreement.
On August 1, 2018, DKGP Energy Terminals LLC notified AMID Merger LP of its termination of the membership interest purchase agreement (MIPA), dated as of February 16, 2018, to acquire all of the membership interests of AMID Refined Products LLC. For a description of the material terms of the MIPA, please see our Current Report on Form 8-K filed on February 20, 2018.
The MIPA was terminated due to regulatory obstacles. The termination was made to Section 8.1 of the MIPA, without any liability, obligation or penalty incurred by either party.
About GREEN PLAINS PARTNERS LP (NASDAQ:GPP)
Green Plains Partners LP provides fee-based fuel storage and transportation services by owning, operating, developing and acquiring ethanol and fuel storage tanks, terminals, transportation assets and other related assets and businesses. The Company’s parent company is Green Plains Inc. (Green Plains). The Company was formed by Green Plains, a vertically integrated ethanol producer, to support its marketing and distribution activities as its primary downstream logistics provider. The Company’s ethanol storage assets are the principal method of storing the ethanol produced at its parent’s ethanol production plants. The Company owns approximately 30 ethanol storage facilities and approximately 50 acres of land. The Company’s storage tanks are located at its parent’s ethanol production plants. The Company’s ethanol storage tanks have combined storage capacity of approximately 31.8 million gallons (mmg) and an aggregate throughput capacity of approximately 1,670 million gallons per year.
