Marathon Petroeleum Corp. said Friday it is contributing its joint-interest ownership in certain pipelines and storage facilities to MPLX for a total consideration of $1.05 billion. The assets are expected to generate about $138 million of 2018 adjusted EBITDA, the companies said in a joint statement. Marathon will receive $630 million in MPLX equity and $420 million in cash. The deal is expected to immediately boost MPLX’s distributable cash flow per unit. Marathon shares were not active premarket, but have gained 4% in 2017, while the S&P 500 has gained 10%.
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