Magellan Midstream Partners (MMP) Reports Sale of Partial Interest in Pasadena Marine Terminal J.V.

Magellan Midstream Announces Sale of Partial Interest in Pasadena Marine Terminal Joint Venture

TULSA, Okla., April 22, 2021 /PRNewswire/ -- 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.

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