A Coastwise Move – Kirby Acquires K-Sea

Kirby Corporation announced earlier this week an agreement to acquire K-Sea Transportation Partners L.P., an operator of tank barges and tug boats participating in the U.S. coastwise trade of refined petroleum products. The total value of the transaction is approximately $600 million, consisting of $335 million for the equity and the re-financing of $265 million of K-Sea debt.

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