May 1 U.S. refining company Marathon Petroleum
Corp 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