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Crestwood Equity Partners files for sale of up to $650M in preferred units

Certain of Crestwood Equity Partners LP unit holders filed to sell 71,257,445 preferred units for up to $650.4 million at a maximum offering price of $9.13 per unit.

The partnership will not receive any proceeds from the sale of the units owned by the selling unit holders, according to a Form S-3 registration filed with the SEC on March 23.

The proposed maximum offering price is estimated solely for the purpose of calculating the registration fee.

Crestwood Equity Partners is a master limited partnership that manages, owns and operates crude oil, natural gas and NGL midstream assets and operations.