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BP files for IPO of U.S. Midwest, Gulf Coast pipeline assets


By Aparajita Saxena(Reuters) - British energy company BP on Monday filed for an initial public offering of its U.S. Midwest and Gulf Coast pipeline assets.BP Midstream Partners LP, the master limited partnership (MLP) formed by BP's U.S. pipeline unit, plans to list on the New York Stock Exchange under the symbol "BPMP," it said in a filing with the U.S. Securities and Exchange Commission. The offering comes nearly two months after BP outlined plans to spin off some of its U.S. pipeline assets in an IPO to raise cash.The IPO revives a plan first broached internally about five years ago ...

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First Published: Mon, September 11 2017. 23:51 IST