Magellan To Sell Independent Terminals Network For $435 Mln
06.12.2021 - NEWS

June 12, 2021 [Nasdaq] – 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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