BP To List U.S. Midstream Assets

BP said on Monday that its wholly owned indirect subsidiary BP Midstream Partners LP had filed for an initial public offering (IPO) on the NYSE that is expected to take place in the fourth quarter this year, depending on market conditions. The proposed maximum aggregate offering price is US$100 million, according to the filing with the SEC. BP Midstream Partners was set up as a vehicle to own, operate, develop, and acquire pipelines and other midstream assets. The company will be headquartered in Houston, with offices in Chicago, Illinois, BP said. …

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