Reuters logo
Marathon Petroleum may consider IPO of pipeline assets
May 1, 2012 / 11:46 AM / in 6 years

Marathon Petroleum may consider IPO of pipeline assets

(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

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below