Motiva Agrees to Acquire Flint Hills Resources' Port Arthur Chemical Plant

Motiva Enterprises LLC and an affiliate of Flint Hills Resources have announced they have signed an agreement for Motiva to acquire a 100% ownership interest in Flint Hills Resources Port Arthur, LLC.  The potential acquisition is targeted to close in the fourth quarter of 2019, subject to satisfaction of closing conditions. The parties will not be disclosing the terms of the transaction.

FHR's Port Arthur chemical plant is a U.S. producer of ethylene and propylene, which are basic chemical building blocks used to manufacture a variety of products such as medical devices, automotive parts and appliance components.