Phillips 66 Partners $2.4 billion acquisition of Phillips 66 assets

Overview:

• Master limited partnership (MLP) Phillips 66 Partners has acquired $2.4 billion in assets from Phillips 66.
• The assets consist of 25% stakes in Dakota Access and Energy Transfer Crude Oil Company - who operate the Bakken Pipeline project - as well as a 100% interest in Merey Sweeny.
• The deal will be financed through a combination of debt and the private placement of equity.
• The transaction is expected to close this upcoming October.

 Katrin Kostadinova - Data analyst