logo
  

Magellan Midstream Partners To Sell Independent Terminals Network For $435 Mln

Magellan Midstream Partners L.P. (MMP) said that it agreed to sell its independent terminals network comprised of 26 refined petroleum products terminals with about 6 million barrels of storage located primarily in the southeastern U.S. to Buckeye Partners, L.P. for $435 million.

The sale is expected to close upon the receipt of required regulatory approvals.

Magellan noted that it plans to use the proceeds from the transaction consistent with its stated capital allocation priorities.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Apple is set to open the Apple Tower Theatre in Los Angeles on Thursday. Apple has converted the 94-year old historic downtown LA art deco theatre into a show-stopping retail store or creative hub for the 21st century. This will be the first Apple Store in downtown LA and the 26th location in greater LA. Bea Lydecker's Naturals, Inc. is recalling six Living Free brand dietary supplement products citing undeclared soy lecithin, the U.S. Food and Drug Administration said. According to the agency, the labels declare lecithin but do not declare soy lecithin. Investment banking major Morgan Stanley plans to block employees and clients who are not fully vaccinated against COVID-19 from entering its New York offices, the Financial Times reported citing an internal memo. The policy is expected to come into effect on July 12, and all unvaccinated employees will lose building access from then onwards.
RELATED NEWS
Follow RTT