{"id":502724,"date":"2021-06-10T08:38:26","date_gmt":"2021-06-10T12:38:26","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/magellan-midstream-announces-sale-of-independent-terminals\/"},"modified":"2021-06-10T08:38:26","modified_gmt":"2021-06-10T12:38:26","slug":"magellan-midstream-announces-sale-of-independent-terminals","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/magellan-midstream-announces-sale-of-independent-terminals\/","title":{"rendered":"Magellan Midstream Announces Sale of Independent Terminals"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">TULSA, Okla.<\/span>, <span class=\"xn-chron\">June 10, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0Magellan Midstream Partners, L.P. (NYSE: MMP) announced today an agreement to sell its independent terminals network comprised of 26 refined petroleum products terminals with approximately 6 million barrels of storage located primarily in the southeastern U.S. to Buckeye Partners, L.P. for <span class=\"xn-money\">$435 million<\/span>. <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/349681\/magellan_midstream_partners__l_p__logo.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/349681\/magellan_midstream_partners__l_p__logo.jpg\" title=\"Magellan Midstream Partners, L.P. (PRNewsFoto\/Magellan Midstream Partners, L.P.) (PRNewsFoto\/)\" alt=\"Magellan Midstream Partners, L.P. (PRNewsFoto\/Magellan Midstream Partners, L.P.) (PRNewsFoto\/)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>&#8220;The sale of our independent terminals demonstrates Magellan&#8217;s continued focus on utilizing all available options, including optimization of our asset portfolio, to maximize unitholder value,&#8221; said <span class=\"xn-person\">Michael Mears<\/span>, chief executive officer. &#8220;We would like to express Magellan&#8217;s gratitude to all employees dedicated to these facilities for their contributions and efforts through the years.&#8221;<\/p>\n<p>The sale is expected to close upon the receipt of required regulatory approvals.<\/p>\n<p>Magellan intends to use the proceeds from this transaction consistent with its stated capital allocation priorities.<\/p>\n<p>\n        <b>About Magellan Midstream Partners, L.P.<br \/><\/b>Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. The partnership owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation&#8217;s refining capacity, and can store more than 100 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3192245-1&amp;h=4168513233&amp;u=http%3A%2F%2Fwww.magellanlp.com%2F&amp;a=www.magellanlp.com\" rel=\"nofollow noopener\">www.magellanlp.com<\/a>.<\/p>\n<p>\n        <i>Except for statements of historical fact, this news release constitutes forward-looking statements as defined by federal law. Although management of Magellan Midstream Partners, L.P. believes such statements are based on reasonable assumptions, such statements necessarily involve known and unknown risks and uncertainties that may cause actual outcomes to be materially different. F<\/i><br \/>\n        <i>actors that could lead to material changes in performance are described in the partnership&#8217;s filings with the Securities and Exchange Commission, including the partnership&#8217;s Annual Report on Form 10-K for the fiscal year ended <span class=\"xn-chron\">Dec. 31, 2020<\/span><\/i><br \/>\n        <i>and subsequent reports on Forms 8-K and 10-Q. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, especially under the headings &#8220;Risk Factors&#8221; and &#8220;Forward-Looking Statements.&#8221; Forward-looking statements made by the partnership in this release are based only on information currently known, and the partnership undertakes no obligation to revise its forward-looking statements to reflect future events or circumstances.<\/i>\n      <\/p>\n<div>\n<table id=\"convertedTableb3e6\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Contact: <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Investors: <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Media:<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Paula Farrell\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Bruce Heine<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(918) 574-7650 <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(918) 574-7010<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <a target=\"_blank\" href=\"mailto:paula.farrell@magellanlp.com\" class=\"prnews_a\" rel=\"nofollow noopener\">paula.farrell@magellanlp.com<\/a><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <a target=\"_blank\" href=\"mailto:bruce.heine@magellanlp.com\" class=\"prnews_a\" rel=\"nofollow noopener\">bruce.heine@magellanlp.com<\/a>\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA06882&amp;sd=2021-06-10\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/magellan-midstream-announces-sale-of-independent-terminals-301309801.html\">http:\/\/www.prnewswire.com\/news-releases\/magellan-midstream-announces-sale-of-independent-terminals-301309801.html<\/a><\/p>\n<p>SOURCE  Magellan Midstream Partners, L.P.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DA06882&amp;Transmission_Id=202106100830PR_NEWS_USPR_____DA06882&amp;DateId=20210610\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire TULSA, Okla., June 10, 2021 \/PRNewswire\/ &#8212;\u00a0Magellan Midstream Partners, L.P. (NYSE: MMP) announced today an agreement to sell its independent terminals network comprised of 26 refined petroleum products terminals with approximately 6 million barrels of storage located primarily in the southeastern U.S. to Buckeye Partners, L.P. for $435 million. &#8220;The sale of our independent terminals demonstrates Magellan&#8217;s continued focus on utilizing all available options, including optimization of our asset portfolio, to maximize unitholder value,&#8221; said Michael Mears, chief executive officer. &#8220;We would like to express Magellan&#8217;s gratitude to all employees dedicated to these facilities for their contributions and efforts through the years.&#8221; The sale is expected to close upon the receipt of required regulatory approvals. Magellan intends to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/magellan-midstream-announces-sale-of-independent-terminals\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Magellan Midstream Announces Sale of Independent Terminals&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-502724","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Magellan Midstream Announces Sale of Independent Terminals - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/magellan-midstream-announces-sale-of-independent-terminals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Magellan Midstream Announces Sale of Independent Terminals - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire TULSA, Okla., June 10, 2021 \/PRNewswire\/ &#8212;\u00a0Magellan Midstream Partners, L.P. (NYSE: MMP) announced today an agreement to sell its independent terminals network comprised of 26 refined petroleum products terminals with approximately 6 million barrels of storage located primarily in the southeastern U.S. to Buckeye Partners, L.P. for $435 million. &#8220;The sale of our independent terminals demonstrates Magellan&#8217;s continued focus on utilizing all available options, including optimization of our asset portfolio, to maximize unitholder value,&#8221; said Michael Mears, chief executive officer. &#8220;We would like to express Magellan&#8217;s gratitude to all employees dedicated to these facilities for their contributions and efforts through the years.&#8221; The sale is expected to close upon the receipt of required regulatory approvals. 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(NYSE: MMP) announced today an agreement to sell its independent terminals network comprised of 26 refined petroleum products terminals with approximately 6 million barrels of storage located primarily in the southeastern U.S. to Buckeye Partners, L.P. for $435 million. &#8220;The sale of our independent terminals demonstrates Magellan&#8217;s continued focus on utilizing all available options, including optimization of our asset portfolio, to maximize unitholder value,&#8221; said Michael Mears, chief executive officer. &#8220;We would like to express Magellan&#8217;s gratitude to all employees dedicated to these facilities for their contributions and efforts through the years.&#8221; The sale is expected to close upon the receipt of required regulatory approvals. Magellan intends to &hellip; Continue reading \"Magellan Midstream Announces Sale of Independent Terminals\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/magellan-midstream-announces-sale-of-independent-terminals\/","og_site_name":"Market Newsdesk","article_published_time":"2021-06-10T12:38:26+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/349681\/magellan_midstream_partners__l_p__logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/magellan-midstream-announces-sale-of-independent-terminals\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/magellan-midstream-announces-sale-of-independent-terminals\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Magellan Midstream Announces Sale of Independent Terminals","datePublished":"2021-06-10T12:38:26+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/magellan-midstream-announces-sale-of-independent-terminals\/"},"wordCount":409,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/magellan-midstream-announces-sale-of-independent-terminals\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/349681\/magellan_midstream_partners__l_p__logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/magellan-midstream-announces-sale-of-independent-terminals\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/magellan-midstream-announces-sale-of-independent-terminals\/","name":"Magellan Midstream Announces Sale of Independent Terminals - 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