Murphy sells its share in MPC
Murphy has sold its 50 per cent share in Australian pipeline developer MPC to Viburnum Funds/SCF Partners.
Following the success of MPC, it will pursue future opportunities utilising expertise in other sectors in both Australian and New Zealand markets.
“Delivering world class infrastructure is what we do well, and while the time was right for us to sell our stake in MPC, we are now looking forward to future investments,” Murphy CEO Steve Hollingshead said.
“We are actively pursuing investments in development, infrastructure assets, new product launches and acquisitions, which complement our existing areas of expertise.”
“The success of MPC shows just what a contribution Murphy’s expertise and ethos can make to a successful partnership.
“We leave behind a strong legacy that we are proud to have been part of and we are confident that our friends and former colleagues remaining with MPC are well-placed to continue to deliver for their customers.
“We wish them every success.”
Commenting on MPC’s growth in Australia, Murphy People Director Jonathan Wright said, “It’s extremely rewarding to have seen our people building their own fulfilling careers and their contribution to securing MPC’s enviable reputation for safety, customer service and innovation.”
Murphy continues grow its operations in the UK and internationally, working both independently and with partners.
Its Canadian joint venture, Surerus Murphy, was launched in 2015 and will work on one of the largest pipeline projects undertaken in Canada, delivering 185 km of Kinder Morgan’s CA$7.6 billion (US$6.2 billion) Trans Mountain project.
For more information visit the Murphy website.
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