Wednesday, Jun 20, 2018
One of America's Great Newspapers ~ Toledo, Ohio


Marathon plans IPO of pipeline subsidiary

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.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2018 Toledo Blade

To Top

Fetching stories…