Par Pacific Holdings has completed its previously announced acquisition of U.S. Oil & Refining Co. and certain affiliated entities (collectively, U.S. Oil), a privately-held downstream business, for $358m plus net working capital.
“We are pleased to close the U.S. Oil transaction, which balances our Pacific and mainland market exposure,” said William Pate, President and CEO of Par Pacific. “We expect the transaction to be immediately accretive to our 2019 earnings and cash flow. We would like to take this opportunity to welcome our new colleagues to the Par Pacific organisation.”
For more information visit www.parpacific.com
15th January 2019