Magellan Midstream Partners L.P. (MMP) said that it agreed to sell its independent terminals network comprised of 26 refined petroleum products terminals with about 6 million barrels of storage located primarily in the southeastern U.S. to Buckeye Partners, L.P. for $435 million.

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Magellan Midstream Partners L.P. (MMP) said that it agreed to sell its independent terminals network comprised of 26 refined petroleum products terminals with about 6 million barrels of storage located primarily in the southeastern U.S. to Buckeye Partners, L.P. for $435 million.

RTTNews | Jun 10, 2021 08:44AM EDT

08:44 Thursday, June 10, 2021 (RTTNews.com) - Magellan Midstream Partners L.P. (MMP) said that it agreed to sell its independent terminals network comprised of 26 refined petroleum products terminals with about 6 million barrels of storage located primarily in the southeastern U.S. to Buckeye Partners, L.P. for $435 million.

The sale is expected to close upon the receipt of required regulatory approvals.

Magellan noted that it plans to use the proceeds from the transaction consistent with its stated capital allocation priorities.

Read the original article on RTTNews ( https://www.rttnews.com/3201479/magellan-midstream-partners-to-sell-independent-terminals-network-for-435-mln.aspx)

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