Phillips 66 Partners LP (NYSE:PSXP) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement
On September19, 2017, Phillips 66 Partners LP (the “Partnership”) entered into a Contribution, Conveyance and Assumption Agreement (the “Contribution Agreement”) with Phillips66 Partners GP LLC (the “General Partner”), Phillips 66 Company (“P66 Company”), and Phillips66 Project Development Inc. (“P66 PDI”), each a wholly owned subsidiary of Phillips66 (“PSX”). to the Contribution Agreement, the Partnership will acquire from P66 PDI, through a series of intercompany contributions, an indirect 25 percent interest in each of Dakota Access, LLC and Energy Transfer Crude Oil Company, LLC (collectively, “Dakota/ETCO” and such interests, the “Dakota/ETCO Interests”) and a direct 100 percent interest in Merey Sweeny, L.P. (“MSLP” and such interest, the “MSLP Interest”) (the Dakota/ETCO Interest and the MSLP Interests, collectively, the “Acquired Interests” and the acquisitions to the Contribution Agreement, collectively, the “Acquisition”).
The assets owned by DAPL/ETCO and MSLP are described below:
Contribution, Conveyance and Assumption Agreement, dated as of September19, 2017, by and among Phillips 66 Partners LP, Phillips 66 Partners GP LLC, Phillips 66 Company and Phillips 66 Project Development Inc.
10.1
SeriesA Preferred Unit and Common Unit Purchase Agreement, dated as of September21, 2017, by and among Phillips 66 Partners LP and the Purchasers party thereto
99.1
Press Release dated September22, 2017, announcing the Acquisition to the Contribution Agreement
99.2
Press Release dated September22, 2017, announcing the pricing of the Private Placement