Loading…
Thursday, August 21, 2014
Current Weather
Loading Current Weather....
Published: Friday, 10/19/2012 - Updated: 1 year ago

Marathon plans IPO of pipeline subsidiary

BLADE STAFF

FINDLAY — Marathon Petroleum Corp. released details Thursday of plans for an initial public offering of a subsidiary that will own its pipeline operations.

In a filing with the U.S. Securities and Exchange Commission, the company said it plans to sell 15 million units in an initial public offering of a master limited partnership called MPLX LP, with pricing expected to be $19 to $21 per share. That would raise about $300 million.

MPLX will trade on the New York Stock Exchange. Master limited partnerships are popular with energy companies in part because the structures pay little or no taxes.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories