Koch Industries Acquiring Propylene Maker

Houston, TX, May 28, 2014 -- Propylene producer PetroLogistics LP said it will be taken private by Flint Hills Resources, a division of Koch Industries, in a deal worth $2.1 billion.

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

PetroLogistics is the only independent dedicated propylene producer in the U.S.