Benzinga | Apr 22, 2021 08:33AM EDT

Magellan Midstream Announces Sale Of Partial Interest In Pasadena Marine Terminal Joint Venture To An Undisclosed Buyer For $270M

Magellan Midstream Partners, L.P. (NYSE:MMP) announced today the sale of nearly half of its membership interest in its Pasadena marine terminal joint venture, MVP Terminalling, LLC, to an undisclosed financial buyer for $270 million. The sale closed on April 19. Magellan now owns approximately 25% of MVP Terminalling and remains the operator of the facility.