Houston-based Phillips 66 sold two natural gas pipeline systems to its affiliate, Phillips 66 Partners, Monday for $1.01 billion in cash and stock. Phillips 66 Partners, a master limited partnership, will pay Phillips 66 $880 million in cash and 1.7 million new units, Fuel Fix said. The agreement also includes $65 million in debt. Phillips ...
Source: Petro Global News | http://petroglobalnews.com/2015/02/phillips-66-spins-off-natural-gas-pipelines-to-an-affiliate-for-1-billion/
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