On Friday 11 February, Shell Pipeline Company LP (‘Shell’) 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. (‘SHLX’) for US$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 optimise 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 materialise on the terms described above or at all.
Read the article online at: https://www.worldpipelines.com/business-news/14022022/shell-pipeline-company-lp-announces-offer-for-remaining-units-of-shell-midstream-partners-lp/