One-Page Deal Sheet
Shell Acquires Equity Stakes in Mars Oil / Odyssey Pipelines for $350MM
Shell Midstream Partners Lp Mars Oil Pipeline Company, Odyssey Pipeline LLC
Announced Date
September 28,2016
Transaction Type
Working Interest
Location
Region
Gulf of Mexico,Gulf Coast
Country
United States
State
Mississippi
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Shell Midstream Partners has agreed to acquire from Shell an additional 20 percent equity interest in Mars Oil Pipeline Company and a 49 percent equity interest in Odyssey Pipeline L.L.C. for $350 million.
The acquisition price reflects an approximate 8.4 times multiple of the forecasted 2017 Adjusted EBITDA of the acquired interests. The acquisition is expected to be immediately accretive to unitholders and funded with a combination of cash on hand and borrowings under Shell Midstream Partners’ credit facilities. The acquisition is expected to close on October 3, 2016.
Mars and Odyssey…