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Shell gets $1 billion US dollars from US pipeline sale

AFX Europe (Focus): Shell gets $1 billion US dollars from US pipeline sale

Posted 5 October 2004

LONDON (AFX) – The Royal Dutch/Shell Group said it received 1 bln usd in proceeds from the sale of its US pipeline systems.

Buckeye Partners paid 517 mln usd to acquire Shell’s Midwest refined products pipeline and storage assets in Illinois, Indiana, Ohio, Michigan and Wisconsin.

Magellan Midstream Partners, meanwhile, paid 490 mln usd for the group’s similar properties in Texas, Oklahoma, Kansas and Colorado.

Both deals have been completed, Shell said.

mbe/ak

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