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Devon Energy midstream spinoff withdraws IPO

By: Renaissance Capital
Posted: 3/20/2014 9:59:00 AM
Referenced Stocks:

Devon Midstream Partners LP, a Devon Energy-backed midstream MLP formed to own and operate natural gas assets, withdrew its plans for an initial public offering on Wednesday citing investor interests. The Oklahoma City, OK-based company was founded in 2013 and booked $2.2 billion in sales for the 12 months ended June 30, 2013. BofA Merrill Lynch and Barclays were set to be the joint bookrunners on the deal.