Announced
Financials
Sources
Tags
United States
Pending
Majority
Friendly
midstream assets
Private
Integrated Oil and Gas
Single Bidder
Acquisition
Domestic
Synopsis
BP, an oil and petrochemicals company, agreed to acquire BP Midstream Partners, a midstream assets developer, operator and manager, for $712m. In line with bp's strategy introduced last year of becoming an integrated energy company, this transaction will deepen bp's interests in, and simplifies the ownership and governance structure of, midstream assets that support integration and optimisation of its fuels value chain in the US. This transaction provides the opportunity for BPMP unitholders to participate in this strategy.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.