By Kyle Morris

Shell Pipeline Company LP said Friday that it has made a nonbinding offer for all remaining common units in Shell Midstream Partners LP for $12.89 a unit in cash.

The company said the proposed transaction simplifies the governance of Shell Midstream Partners assets, reduces costs, and provides flexibility to optimize the pipeline portfolio.

Shell and its affiliates currently own around 68.5% of Shell Midstream Partners' common units.

There can be no assurance that any transaction will materialize, it said.

Write to Kyle Morris at kyle.morris@dowjones.com

(END) Dow Jones Newswires

February 11, 2022 13:02 ET (18:02 GMT)

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