MPLX LP Announces Filing of Registration Statement for Initial Public Offering
(Thomson Reuters ONE) -
FINDLAY, Ohio, July 3, 2012 - MPLX LP (MPLX), a wholly owned subsidiary of
Marathon Petroleum Corporation (NYSE: MPC), announced today that it has filed a
registration statement on Form S-1 with the U.S. Securities and Exchange
Commission (SEC). This filing is made in anticipation of a proposed initial
public offering of common units representing limited partner interests in MPLX.
An application will be made to the New York Stock Exchange to list the common
units under the symbol "MPLX." The number of common units to be offered and the
price range for the offering have not been determined.
MPLX was formed by MPC as its primary vehicle to own, operate, develop and
acquire crude oil, refined products and other hydrocarbon-based products
pipelines and other midstream assets. Headquartered in Findlay, Ohio, MPLX's
initial assets are expected to consist of a 51 percent interest in a network of
common carrier crude oil and products pipeline assets located in the Midwest and
Gulf Coast regions and a 100 percent interest in a butane cavern in West
Virginia.
UBS Investment Bank and BofA Merrill Lynch are acting as joint book-running
managers and structuring agents for the proposed offering. The offering will be
made only by means of a prospectus. When available, a preliminary prospectus
relating to this offering may be obtained from:
UBS Investment Bank
Prospectus Department
299 Park Avenue
New York, NY 10171
(888) 827-7275
BofA Merrill Lynch
Prospectus Department
222 Broadway
7(th) Floor
New York, NY 10038
(212) 449-1000
dg.prospectus_requests(at)baml.com
When available, to obtain a copy of the preliminary prospectus free of charge,
visit the SEC's website and search under the registrant's name, "MPLX LP."
A registration statement relating to these securities has been filed with the
SEC but has not yet become effective. These securities may not be sold nor may
offers to buy be accepted prior to the time the registration statement becomes
effective.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of any such state
or jurisdiction.
This press release contains "forward-looking" statements within the meaning of
the federal securities laws. These statements contain words such as "possible,"
"intend," "will," "if" and "expect" and can be impacted by numerous factors,
including the risk that an initial public offering of MPLX may not occur, risks
relating to the securities markets generally, the impact of adverse market
conditions affecting MPC's midstream business or MPLX's business, adverse
changes in laws including with respect to tax and regulatory matters and other
risks. There can be no assurance that actual results will not differ from those
expected by management of MPC or MPLX. For more information concerning factors
that could affect these statements, see the registration statement relating to
these securities and MPC's most recent annual report on Form 10-K, each filed
with the SEC. Neither MPC nor MPLX undertake any obligation to update or revise
such forward-looking statements to reflect events or circumstances that occur,
or which MPC or MPLX becomes aware of, after the date hereof.
# # #
MPLX LP Announces Filing:
http://hugin.info/147922/R/1623526/518985.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Marathon Petroleum Corporation via Thomson Reuters ONE
[HUG#1623526]
Unternehmensinformation / Kurzprofil:
Datum: 03.07.2012 - 13:08 Uhr
Sprache: Deutsch
News-ID 162157
Anzahl Zeichen: 4531
contact information:
Town:
Findlay, Ohio
Kategorie:
Business News
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