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MI - Shell drops down pipes to Shell Midstream for $800MM - May 2019



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Shell Midstream Partners struck an $800 million deal to acquire Royal Dutch Shell’s 25.97% equity interest in Explorer Pipeline Co. and 10.125% stake in Colonial Pipeline Co. Shell Midstream increases its ownership in Explorer to 38.59% and in Colonial to 16.125% through the deal, which is expected to close in Q2. The acquisition increases Shell Midstream's strategic exposure to refined products supply from the Gulf Coast and cash-flow generating pipelines with combined capacity of 3 MMbbl/d. Explorer, which serves 70 major cities......
 
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