Phillips 66 Eyes $1-Billion Pipeline Stake Divestment ...Middle East

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Phillips 66 Eyes $1-Billion Pipeline Stake Divestment
source : OILPRICE ( Middle East ) () 130
Phillips 66 is considering the sale of its 25% stake in a gas pipeline that runs between Wyoming and Ohio, which could fetch over $1 billion. Citing unnamed sources in the know, Reuters said the refiner was currently discussing the divestment with advisers and that potential suitors for the stake included private equity firms and infrastructure investment funds. The stake, per the Reuters sources, has a book value of $451 million but it carries some $500 million in debt that the buyer would have to take on. Phillips 66 said earlier…

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