(Reuters) – Royal Dutch Shell: Wednesday 18 June 2014
* Files to raise up to $750 million
* Company formed by Royal Dutch Shell as an MLP
(Reuters) – Shell Midstream Partners LP, a master limited partnership formed by Royal Dutch Shell Plc, filed with U.S. regulators on Wednesday to raise up to $750 million in an initial public offering of common units.
The master limited partnership (MLP) structure allows companies to raise money in the stock market while having income taxed only at the unit holder level, avoiding corporate income taxes.
Shell Midstream said in its IPO prospectus it plans to use proceeds from the offering to acquire stakes in some pipeline companies from Shell Pipeline Company LP, a U.S. unit of Royal Dutch Shell, in exchange for cash distribution.
Shell Midstream’s assets will include a 43 percent stake in Zydeco Pipeline Company LLC, a 28.6 percent stake in Mars Oil Pipeline Company and a 49 percent stake in Bengal Pipeline Company LLC.
These companies own pipelines that run along the coasts of Texas and Louisiana and in offshore Louisiana. They also own pipelines that transport refined products from refineries on the Gulf Coast and southeastern United States.
Shell Midstream reported net income of $23.8 million on revenue of $36.1 million for the quarter ended March 31, on a pro forma basis, according to the IPO filing.
Offerings from oil and natural gas companies constituted 23 of the more than 250 IPOs over the past 12 months.
Barclays and Citigroup are underwriting Shell Midstream’s IPO, the Houston, Texas-based company said in its filing with the U.S Securities and Exchange Commission. (bit.ly/1iG7z6c)
The company intends to list its common units on the New York Stock Exchange under the symbol “SHLX”.
The filing did not reveal how many shares the company planned to sell or their expected price.
The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO could be different. (Reporting by Amrutha Gayathri in Bangalore; Editing by Saumyadeb Chakrabarty)
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
