Koch Industries to Buy PetroLogistics for $2.1 bln

Posted by Joseph Keefe May 28, 2014

Propylene producer PetroLogistics LP said it will be taken private by a unit of Koch Industries Inc in a deal worth $2.1 billion, including debt.

Flint Hills Resources LLC will pay $14.00 per in cash for each PetroLogistics unit, except for units owned by a few select investors.

Flint Hills will pay $12.00 per unit in cash for the units owned by Lindsay Goldberg LLC, York Capital Management, PetroLogistics' executive chairman and its president and chief executive officer.

PetroLogistics's units closed at $12.93 Tuesday on the New York Stock Exchange.

Reporting by Swetha Gopinath