One-Page Deal Sheet
Shell Midstream Acquires Equity Interest in Poseidon Oil Pipeline
Shell Midstream Partners Lp Equilon Enterprises LLC
Announced Date
July 01,2015
Close Date
July 01,2015
Transaction Type
Asset
Transaction Details: Subscribe to see
Shell Midstream Partners, L.P. has closed the acquisition of a 36% equity interest in Poseidon Oil Pipeline Company L.L.C. for $350 million from Equilon Enterprises LLC, a subsidiary of Shell Oil Products US.
The acquisition price, including a proportional share of Poseidon debt, reflects and approximate 9.5 times multiple of the asset's forecasted next twelve months adjusted earnings before interest, taxes, depreciation and amortization plus capacity reserve payments. The acquisition is expected to be immediately accretive to unitholders. In addition to the acquisition, Shell Midstream…
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