HollyFrontier Announces Acquisition of Puget Sound Refinery
Positions HFC in West Coast product markets with strong demand
Increases scale and geographic footprint of HFC's refining operations
Expected transaction to be immediately accretive to earnings and free cash flow
HollyFrontier Corporation (NYSE:HFC) ("HollyFrontier") today announced that it has entered into a definitive agreement to acquire the Puget Sound Refinery, the on-site cogeneration facility and related logistics assets, from Equilon Enterprises LLC d/b/a Shell Oil Products US ("Shell") for a purchase price of $350 million, plus hydrocarbon inventory to be valued at closing with an estimated current value in the range of $150-180 million. HollyFrontier expects to fund the acq
