News: Shell Midstream acquires Poseidon Oil $SHLX

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.