LONDON--Shell Midstream Partners, a limited partnership formed
by Anglo-Dutch Oil giant Royal Dutch Shell PLC (RDSB.LN), Monday
launched an initial public offering of 37.5 million common units in
New York.
The partnership was formed to own, operate, develop and buy
pipelines and other midstream assets.
The units being offered represent a 27.2% limited partner
interest in Shell Midstream Partners, or 31.3% if the underwriters
exercise in full their option to buy additional common units. Royal
Dutch Shell, through certain subsidiaries, will own the remaining
limited partner interest in Shell Midstream Partners, as well as
its 2.0% general partner interest.
The underwriters have a 30-day option to buy an extra 5.63
million common units in Shell Midstream
Write to Ian Walker at ian.walker@wsj.com
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