Shell Midstream Buys Interests in 2 Pipeline Companies for $800 Million
13 Maggio 2019 - 2:52PM
Dow Jones News
By Chris Wack
Shell Midstream Partners L.P. (SHLX) said Monday that it has
entered into an agreement to acquire Royal Dutch Shell's (RDSA)
25.97% equity interest in Explorer Pipeline Co. and 10.125% equity
interest in Colonial Pipeline Co. for $800 million.
Shell Midstream said in a release that the acquisition will
increase its interest in Explorer to 38.59% and in Colonial to
16.125%.
Shell Midstream said that the acquisition is expected to be
immediately accretive to unitholders and anticipated to be funded
with 75% debt through a credit facility.
The deal is expected to close in the second quarter.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 13, 2019 08:37 ET (12:37 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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