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Slideshow Mergers & Acquisitions

By The Online Investor Staff, updated Wed., Oct. 22, 5:38 PM

Slide #3. Phillips 66 Partners LP Strategic Logistics Assets

Acquirer: Phillips 66 Partners LP (NYSE:PSXP)
Acquiree: Strategic Logistics Assets
Details: Phillips 66 Partners LP (NYSE:PSXP) (the "Partnership") has reached an agreement to acquire from Phillips 66 (NYSE:PSX) two newly constructed crude oil rail-unloading facilities, located in Linden, New Jersey, and Ferndale, Washington, for $330 million as well as certain assets associated with the Cross-Channel Connector Pipeline for an additional $10 million. The acquisition, which is anticipated to close in early December 2014, is expected to be immediately accretive to unitholders.

Phillips 66 Partners is a growth-oriented master limited partnership. Co. owns, operates, develops and acquires primarily fee-based crude oil, refined petroleum product and natural gas liquids (NGL) pipelines and terminals and other transportation and midstream assets. Co.'s assets consist of crude oil and refined petroleum product pipeline, terminal and storage systems in the Central and Gulf Coast regions of the U.S. that are integral to the Phillips 66 refining and marketing operations they support. Co.'s operations are conducted in the U.S.

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Company Name:  Phillips 66 Partners LP
Website:  www.phillips66partners.com
Sector:  Oil & Gas Equipment & Services
Number of ETFs Holding PSXP:  3
Total Market Value Held by ETFs:  $2.23M
Total Market Capitalization:  $2.58B
% of Market Cap. Held by ETFs:  0.09%
 

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October 22, 2014    5:38 PM Eastern
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Buy (2.83 out of 4)
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