Marathon Petroleum may consider IPO of pipeline assets

Tue May 1, 2012 7:39am EDT

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(Reuters) - Refining company Marathon Petroleum Corp (MPC.N) said it will look at spinning off some of its pipeline assets into a master limited partnership (MLP) and taking it public, even as it considers strategic alternatives for those assets.

Marathon added that it may sell a minority interest in the unit in an initial public offering.

If Marathon goes through with the public offering, the wholly owned subsidiary -- MPLX LP -- will hold an interest in onshore pipeline assets located in the Midwest and Gulf Coast regions of the United States.

Marathon said it expects to file a registration statement with the Securities and Exchange Commission during the third quarter.

(Reporting by Swetha Gopinath in Bangalore; Editing by Roshni Menon)