January 3, 2017 / 11:16 AM / 7 months ago

BRIEF-Marathon Petroleum Corp provides update on strategic actions

Jan 3 (Reuters) - Marathon Petroleum Corp :

* Reg-Marathon Petroleum Corporation provides update on strategic actions to enhance shareholder value

* Marathon Petroleum Corp - expects to exchange its economic interests in gp for mplx lp units in conjunction with completion of dropdowns

* Marathon Petroleum Corp - mpc expects to dropdown assets generating \$1.4 billion of EBITDA to mplx as soon as practicable

* Marathon Petroleum Corp - MPC to conduct a full and thorough review of speedway

* Update on review is expected to be provided by mid-2017

* Marathon Petroleum - cash proceeds from dropdowns, ongoing lp distributions expected to fund "substantial ongoing return of capital to mpc shareholders"

* Marathon petroleum Corp - a special committee of mpc board will conduct a full and thorough review of speedway

* Marathon Petroleum corp - MPC plans to dropdown an additional $350 million of ebitda-generating assets by end of q4 of 2017

* Marathon Petroleum Corp - review will include a tax-free separation of speedway to mpc shareholders and other strategic and financial alternatives Source text for Eikon: Further company coverage:

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