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Plains GP files to sell class A shares of up to $938.9M

Plains GP Holdings LP filed to sell up to $938.9 million of its class A shares from time to time in one or more offerings.

The proceeds will be used for general partnership purposes, including investment in Plains All American Pipeline LP equity, debt repayment, acquisitions, capital expenditures and additions to working capital, according to an SEC filing.

Plains GP Holdings owns an indirect, noneconomic controlling general partner interest and an indirect limited partner interest in Plains All American, which owns and operates midstream energy infrastructure and provides logistics services for crude oil, NGLs and natural gas.