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 PIPE LINE PARTNERS, L.P.
(Exact name of registrant as specified in charter)
Delaware 001-10311 75-2287571
(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.
The Registrant is a Delaware limited partnership of which Kaneb Pipe
Line Company, a Delaware corporation ("KPL"), is the general partner. KPL is a
wholly owned subsidiary of Kaneb Services, Inc., a Delaware corporation ("Kaneb
Services"). Kaneb Services announced November 27, 2000 the decision of Kaneb
Services' Board of Directors to distribute its pipeline, terminaling and product
marketing business to Kaneb Services' stockholders in the form of a new limited
liability company (the "LLC"). It is Kaneb Services' 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 the Registrant currently held by Kaneb
Services, and Kaneb Services' wholly owned petroleum product marketing
subsidiary. Kaneb Services' stockholders will retain their stake in Kaneb
Services' growth businesses, which are focused on technology and technical
services.
Kaneb Services' 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 - Kaneb Services, Inc.'s 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 PIPE LINE PARTNERS, L.P.
By: MICHAEL R. BAKKE
Michael R. Bakke, Assistant Controller
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INDEX TO EXHIBITS
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Number Exhibit
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22.1 Kaneb Services, Inc.'s News Release dated November 27, 2000
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