Sunoco Logistics Partners increasing stake in West Shore Pipe Line Co.
Aug. 13, 2003
Sunoco Logistics Partners LP, Philadelphia, has agreed to purchase Marathon Oil Co.'s 13.2% interest in West Shore Pipe Line Co. for $15.5 million.
By OGJ editors HOUSTON, Aug. 13 -- Sunoco Logistics Partners LP, Philadelphia, has agreed to purchase Marathon Oil Co.'s 13.2% interest in West Shore Pipe Line Co. for $15.5 million.
Closing of the transaction is expected within 90 days, subject to certain purchase rights held by existing West Shore stockholders, and customary closing conditions. Upon completion, the deal will boost Sunoco Logistics' holdings to 22.4% from 9.2% interest.
West Shore is a 652-mile petroleum products pipeline system that originates in the Chicago area and extends north into Wisconsin and west into Illinois.
