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Phillips 66 Agrees To Sell DCP GCX Pipeline LLC, Which Owns 25% Non-Operated Equity Interest In Gulf Coast Express Pipeline LLC, To Affiliate Of ArcLight Capital For Pre-tax Total Cash Proceeds Of $865M

Benzinga ·  20:21

The sales price represents an implied Enterprise Value/EBITDA multiple of 10.6x based on expected 2025 EBITDA. Proceeds from the sale will support the strategic priorities of Phillips 66, including returns to shareholders and debt reduction.The sale is expected to close in January 2025.

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