One-Page Deal Sheet
Phillips 66 Partners Acquires $1.3 Billion in Assets from Phillips 66
Phillips 66 Partners LP Phillips 66
Announced Date
October 11,2016
Transaction Type
Asset
Location
Region
United States
Country
United States
Transaction Details: Subscribe to see
Phillips 66 Partners LP has agreed to acquire 30 crude, refined products and NGL logistics assets for $1.3 billion from Phillips 66.
The Partnership plans to fund the acquisition with a combination of debt and $196 million in new PSXP units issued to Phillips 66.
The transaction is anticipated to close this month.
The transaction includes the following assets:
A crude pipeline and terminal system that provides crude supply for Phillips 66’s Ponca City Refinery, consisting of 503 miles of pipeline and 1.7 million barrels of storage; A refined products and NGL pipeline and terminal system that…United States Deal Activity In Last 12 Months
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