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): January 4, 1999
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BUCKEYE PARTNERS, L.P.
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(Exact name of Registrant specified in Charter)
Delaware 1-9356 23-2432497
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(State or Other (Commission (IRS Employee
Jurisdiction of File Number) Identification No.)
Incorporation)
3900 Hamilton Boulevard
Allentown, Pennsylvania 18103
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone, including area code: (610) 770-4700
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(Former Name and Former Address, if Changed Since Last Report)
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Item 5. Other Events.
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On January 4, 1999, Buckeye Management Company, the general partner of Buckeye
Partners, L.P. (NYSE:BPL)(the "Partnership") announced that, effective
December 31, 1998, it transferred its general partnership interest in the
Partnership to Buckeye Pipe Line Company, a wholly owned subsidiary of Buckeye
Management Company.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(c) Exhibits.
Exhibit No. Exhibit
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99.1 Press release, dated January 4, 1999
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Signature
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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 thereunto duly authorized.
BUCKEYE PARTNERS, L.P.
By: Buckeye Pipe Line Company,
Its General Partner
By: /s/ Stephen C. Muther
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Name: Stephen C. Muther
Title: Senior Vice President, Administration,
General Counsel and Secretary
Exhibit 99.1
Buckeye Partners, L.P.
3900 Hamilton Boulevard
Allentown, Pennsylvania
18103
(800) 422-2825
Contact: Thomas B. Dornblaser
Manager, Investor Relations
News Release
New York Stock Exchange (BPL) FOR IMMEDIATE RELEASE
January 4, 1999
Allentown, PA January 4, 1999 . . . Buckeye Management Company, the general
partner of Buckeye Partners, L.P. (NYSE:BPL) (the "Partnership"), today
announced that, in furtherance of its previously announced cost reduction
initiative, the Partnership completed an internal restructuring effective
December 31, 1998.
In connection with the restructuring, Buckeye Management Company, the
Partnership's general partner, transferred its general partnership interest in
the Partnership to Buckeye Pipe Line Company, a wholly-owned subsidiary of
Buckeye Management Company. Buckeye Pipe Line Company will serve as the sole
general partner of the Partnership and its several operating partnerships.
The Buckeye Pipe Line Company Board of Directors will consist of the same
members who presently serve on the Buckeye Management Company Board. The
change in the general partner will have no effect on the business or
operations of the Partnership.
Buckeye Partners, L.P., through its subsidiary partnerships, is one of the
nation's largest independent pipeline common carriers of refined petroleum
products with nearly 3,500 miles of pipeline operating in 10 states.
