Shell Midstream Buys Interests in 2 Pipeline Companies for $800 Million

Date : 05/13/2019 @ 1:52PM
Source : Dow Jones News

Shell Midstream Buys Interests in 2 Pipeline Companies for $800 Million

Shell Midstream Partners (NYSE:SHLX)
Historical Stock Chart

6 Months : From Mar 2019 to Sep 2019

Click Here for more Shell Midstream Partners Charts.

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.

Latest RDSA Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.