Shell Midstream Partners (SHLX) Misses Q1 EPS by 2c, Miss on Revenues

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Shell Midstream Partners (SHLX) to Acquire Additional Assets from Shell for $630M

May 5, 2017 8:03 AM EDT

Shell Midstream Partners, L.P. (NYSE: SHLX) entered into a purchase and sale agreement to acquire a 100% interest in the Refinery Gas Pipelines, Delta Pipeline and Na Kika Pipeline for $630 million from wholly owned subsidiaries of Shell.

The acquisition price reflects an approximate 8.4 times multiple of the assets forecasted next twelve months adjusted earnings before interest, taxes, depreciation and amortization and is expected to be immediately accretive to unitholders. Shell... More