Phillips 66 Partners Acquires Interest in Liberty Pipeline

HOUSTON--(BUSINESS WIRE)--Phillips 66 Partners LP (NYSE: PSXP) (“Phillips 66 Partners” or the “Partnership”) has reached agreement with Phillips 66 (NYSE: PSX) to acquire its 50% interest in the Liberty Pipeline project for approximately $75 million. Phillips 66 Partners plans to fund the transaction through a combination of cash on hand and the revolving credit facility. The transaction is expected to close on March 2, 2020, with an effective date of March 1, 2020.