October 11, 2016 / 12:47 PM / 9 months ago

Phillips 66 Partners to buy logistics assets from Phillips 66

1 Min Read

Oct 11 (Reuters) - Phillips 66 Partners LP said it agreed to buy crude, refined products and natural gas liquids logistics assets from Phillips 66 for $1.3 billion.

Phillips 66 Partners plans to fund the deal with debt and $196 million in new units of Phillips 66 Partners issued to Phillips 66. (Reporting by Arathy S Nair in Bengaluru; Editing by Maju Samuel)

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