UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 29, 2000
KANEB SERVICES, INC.
(Exact name of registrant as specified in charter)
Delaware 001-05083 74-1191271
(State of Organization) (Commission File No.) (I.R.S. Employer
Identification No.)
2435 North Central Expressway
Richardson, Texas 75080
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (972) 699-4000
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Item 5. Other Events.
Registrant announced November 27, 2000 the decision of the Board of
Directors to distribute its pipeline, terminaling and product marketing business
to its stockholders in the form of a new limited liability company (the "LLC").
It is the Registrant's intent to complete this action by mid-year 2001.
This newly formed LLC will own the general partner interest and 5.1
million limited partner units of Kaneb Pipe Line Partners, L.P. currently held
by the Registrant, and the Registrant's wholly owned petroleum product marketing
subsidiary. The Registrant's stockholders will retain their stake in the
Registrant's growth businesses, which are focused on technology and technical
services.
The Registrant's press release dated November 27, 2000, with respect to
this matter is attached as an exhibit to this Current Report.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
22.1 - News Release dated November 27, 2000.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
KANEB SERVICES, INC.
By: MICHAEL R. BAKKE
Michael R. Bakke, Controller
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INDEX TO EXHIBITS
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Number Exhibit
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22.1 News Release dated November 27, 2000.
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