US' Tesoro creates logistics MLP, plans public offering

摘要

New York-US West Coast refiner Tesoro said December 13 it is creating a logistics master limited partnership that should raise $200 million in an initial public offering. The company said it plans to "contribute a portion" of its logistics assets to the MLP and then sell a minority interest as an IPO. "The MLP is intended to support Tesoro's strategy to grow its logistics business," said Tesoro, without giving an indication of the IPO's timing.