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BRIEF-Marathon Petroleum agrees to drop down $8.1 bln assets worth $8.1 bln to MLPX
2017年11月13日 / 晚上9点30分 / 5 天前

BRIEF-Marathon Petroleum agrees to drop down $8.1 bln assets worth $8.1 bln to MLPX

Nov 13 (Reuters) - Marathon Petroleum Corp

* Marathon Petroleum Corp and MPLX LP announce agreement for approximately $8.1 billion dropdown to MPLX, and MPC initiates offer to exchange its general partner interests, including its IDRS, in MPLX

* Transaction is expected to close on Feb. 1, 2018, and be immediately accretive to MPLX’s distributable cash flow per unit​

* Dropdown agreement approved by MPLX board following approval of terms of transaction by its independent conflicts committee​

* ‍MPC is contributing the assets and services in exchange for $4.1 billion in cash, MPLX equity valued at about $4 billion​

* In connection with entering into dropdown agreement, MPLX entered into a commitment letter with Mizuho Bank Ltd​, among others

* Commitment letter was for $4.1 billion 364-day term-loan facility to be funded upon closing of dropdown deal expected on Feb. 1, 2018​

* ‍MPC also offered to MPLX board exchange of GP economic interests in MPLX for newly-issued MPLX common units​ Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)

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