Shell Midstream Partners has acquired a 36% equity interest in the Poseidon Oil Pipeline Co. The Deal accounts for $350 million from Equilon Enterprises LLC, a subsidiary of Shell Oil Products US.
The acquisition was funded with borrowings under Shell Midstream Partners’ revolving credit facilities.
Shell has also increased its total borrowing capacity to $500 Million by adding $100 Million to new one-year revolving credit facility.
View the full release here.