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.
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December 12, 2025 15:14 ET Central bank decisions dominated the economic news flow this week led by the Federal Reserve. Trade data from the U.S. also gained attention. The Canadian and Swiss central banks also announced their interest rate decisions. Inflation data from China was in focus as the country released the latest consumer price and producer price data.