Deal Details

Initial Public Offering

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Summary

About

Plains GP Holdings, L.P. (“Plains GP Holdings” or the “Partnership”) (NYSE: PAGP) recently completed an initial public offering of 132,382,094 Class A shares representing limited partner interests at a price of $22.00 per share, generating gross proceeds of approximately $2.9 billion. The Partnership intends to distribute the net proceeds from the offering to the existing owners of Plains AAP, L.P. (“Plains AAP”) (NYSE: PAA) who sold a portion of their interests to the Partnership in connection with the offering.

Plains GP Holdings only cash-generating assets consist of Class A Units in Plains AAP. Plains AAP currently owns all of the incentive distribution rights and an indirect general partner interest in Plains All American Pipeline, L.P. (“Plains All American Pipeline”). The Partnership is headquartered in Houston, Texas.

Plains All American Pipeline is a publicly traded limited partnership engaged in the transportation, storage, terminalling and marketing of crude oil and refined products, as well as in the processing, transportation, fractionation, storage and marketing of natural gas liquids ("NGL"). Plains All American Pipeline is one of the largest publicly traded partnerships with an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada.

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