Brief: Crossamerica Partners Expects To Generate Adj EBITDA Of $125 Mln To $135 Mln For 2020

Crossamerica Partners LP

15/01/2020 22:35

Jan 15 (Reuters) - Crossamerica Partners LP  CAPL.N :
    * ANNOUNCES ELIMINATION OF INCENTIVE DISTRIBUTION RIGHTS
(IDRS),
AGREEMENT TO PURCHASE RETAIL AND WHOLESALE ASSETS AND PROVIDES
GUIDANCE FOR 2020
    * CROSSAMERICA PARTNERS LP - CROSSAMERICA EXPECTS TO
GENERATE
ADJUSTED EBITDA OF $125 MILLION TO $135 MILLION FOR 2020
    * CROSSAMERICA PARTNERS LP - EXPECTS DISTRIBUTABLE CASH FLOW
OF
$100 MILLION TO $110 MILLION FOR 2020
    * CROSSAMERICA PARTNERS LP - CO, INVESTMENT ENTITIES
CONTROLLED BY
JOE TOPPER ANNOUNCED EXECUTION OF DEFINITIVE AGREEMENT TO
ELIMINATE ALL OF CO'S IDR
    * CROSSAMERICA PARTNERS LP - TO ELIMINATE ALL OF CO'S IDRS
IN
EXCHANGE FOR ABOUT 2.5 MILLION NEWLY ISSUED CAPL COMMON UNITS
    * CROSSAMERICA PARTNERS LP - TERMS OF TRANSACTION WERE
UNANIMOUSLY
APPROVED BY BOARD OF DIRECTORS OF GENERAL PARTNER OF
CROSSAMERICA
    * CROSSAMERICA - PURCHASE PRICE TO ACQUIRE RETAIL, WHOLESALE
ASSETS IS $36 MILLION WITH $21 MILLION PAID IN CASH & ABOUT 0.8
MILLION NEWLY ISSUED CAPL COMMON UNITS
    * CROSSAMERICA PARTNERS LP -  ANTICIPATED RETAIL AND
WHOLESALE
ASSETS TRANSACTION WILL BE IMMEDIATELY ACCRETIVE TO
DISTRIBUTABLE CASH FLOW

Source text for Eikon:  ID:nGNX8tSxLD 
Further company coverage:  CAPL.N 

 (Reuters.Briefs@thomsonreuters.com)