2011-05-30-2011-04-27

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Estimated Price
85MM
Description

To buy 20% WI in West Texas LPG Pipeline LP, which owns common-carrier pipeline system that transports NGLs from New Mexico and Texas to Mont Belvieu for fractionation.

Buckeye Partners LP, Houston, (NYSE: BPL) plans to sell its 20% interest in West Texas LPG Pipeline LP to affiliates of Atlas Pipeline Partners LP, Philadelphia, (NYSE: APL) for $85 million.

West Texas LPG owns a 2,295-mile common-carrier pipeline system that transports NGLs from New Mexico and Texas to Mont Belvieu for fractionation. Chevron Pipeline Co., which owns the remaining 80% interest, is the operator of West Texas LPG.

The transaction is expected to close in second-quarter 2011. Proceeds from the sale will be redeployed to the partnership's core operating assets, and will be available to fund a portion of the internal growth capital projects planned for 2011.