Valero Energy Corporation (NYSE:VLO) acquired 50% stake in Diamond Pipeline LLC from Plains All American Pipeline, L.P. (NYSE:PAA) in December 2015.

Valero Energy Corporation (NYSE:VLO) completed the acquisition of 50% stake in Diamond Pipeline LLC from Plains All American Pipeline, L.P. (NYSE:PAA) in December 2015. Valero Energy Corp. exercised an option in December 2015, to acquire the 50% interest of the Diamond Pipeline. Valero Energy has already invested $140 million in December, 2015 and has budgeted another $280 million for the project in 2016.