BUSINESS

Shell Pipeline Company Offers To Buy Remaining Units In Shell Midstream Partners

Shell Pipeline Company LP (“Shell”) has announced it has made a non-binding offer to purchase all remaining common units held by the public representing limited partner interests in Shell Midstream Partners, L.P. (NYSE: SHLX) (“SHLX”) for $12.89 per common unit in cash.

Shell and its affiliates currently own approximately 68.5% of SHLX common units. The proposed transaction simplifies the governance of the SHLX assets, reduces costs, and provides flexibility to optimize the pipeline portfolio.

The proposed transaction is subject to a number of contingencies, including the approval of the board of directors of SHLX and the satisfaction of any conditions to the consummation of a transaction set forth in any definitive agreement concerning the transaction. There can be no assurance that such definitive documentation will be executed or that any transaction will materialize on the terms described above or at all.

ALSO READ  Fidelity Bank To Celebrate International Women's Day With Community-Driven Proposition

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button