Shell’s MLP acquires pipelines in $630M drop-down deal

Shell Midstream Partners LP (NYSE: SHLX) is spending $630 million to acquire pipeline assets from subsidiaries of Royal Dutch Shell PLC (NYSE: RDS-A, RDS-B).

The so-called drop-down deal is expected to close on or around May 10. Shell Midstream, a master limited partnership, plans to fund the deal with a combination of borrowings under existing credit facilities and cash on hand, according to a May 5 press release.

The deal gives Shell Midstream a 100 percent interest in the following assets:

Refinery…

Shell’s MLP acquires pipelines in $630M drop-down deal syndicated post

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