Plains Group Holdings Starts Offering of Class A Shares

Plains Group Holdings, L.P said Wednesday in a regulatory filing that it will sell, from time to time, class A shares representing limited partner interests in PAGP having an aggregate offering price of up to $500 million.

The net proceeds from the offering will be used to purchase from Plains AAP, L.P. a number of class A units equal to the number of PAGP Class A shares sold in such offering at a price equal to the net proceeds from such offering.

Plains AAP, L.P. will use the net proceeds it receives from such sale of class A units to PAGP to purchase from Plains All American Pipeline, L.P (PAA) an equivalent number of common units representing limited partner interests in the partnership.

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