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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Shell Midstream Partners LP | NYSE:SHLX | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 15.82 | 0 | 01:00:00 |
From Jun 2022 to Jun 2024
By Kathryn Hardison
Shell USA Inc. and Shell Midstream Partners L.P. have agreed to merge.
The companies said Monday that they have executed a definitive agreement and plan of merger for Shell USA to acquire all of the common units representing limited partner interests in Shell Midstream Partners held by the public. Shell USA will purchase them at $15.85 each in cash, representing a total value of approximately $1.96 billion, the companies said.
A subsidiary of Shell USA currently owns 269,457,304, or almost 69%, of Shell Midstream Partners common units.
The deal is expected to close in the fourth quarter.
Shell Midstream Partners' assets include interests in entities that own crude-oil and refined products pipelines and terminals that serve as key infrastructure in transporting onshore and offshore crude-oil production to U.S. Gulf Coast and Midwest refining markets. The entities also deliver refined products from those markets to major demand centers, the companies said.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
July 25, 2022 17:11 ET (21:11 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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