April 3, 2017 / 6:36 AM / 5 months ago

BRIEF-BP says to sell forties pipeline system to Ineos

April 3 (Reuters) - Bp Plc -

* BP press release - BP to sell forties pipeline system to Ineos

* Agreed to sell its FPS business, with assets including main forties offshore and onshore pipelines and other associated pipeline interests and facilities

* sale will not affect BP's existing rights to capacity in FPS

* Under terms of agreement, Ineos will pay BP a consideration of up to $250 mln for business

* Consideration comprises a cash payment of $125 mln on completion and an earn-out arrangement over seven years that totals up to $125 mln Further company coverage:

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