The company will pay $325m for the refinery and related logistics assets and an additional estimated $300m for inventories.
The refinery has a total throughput capacity of 135,000 barrels per day (bpd) with a 34,000bpd hydrocracker and significant hydroprocessing capacity that gives the facility the ability to process medium sour crude and produce significant yields of premium products.
The acquisition also includes an adjacent product terminal, a 20% equity interest in the Collins Product Pipeline and T&M terminal, and a 3.2% interest in the Louisiana Offshore Oil Port.
The transaction, which is subject to regulatory approvals, is expected to close in the fourth quarter of this year.
