oil & gas assets
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MI - News Briefs - February 05, 2019

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HollyFrontier Corp. completed its acquisition of Sonneborn US Holdings and Sonneborn Coöperatief U.A. for $655 million, including working capital estimated at $72 million. With manufacturing facilities in Pennsylvania and the Netherlands, Sonneborn is a supplier of white oils, petrolatums and waxes, a portfolio of products that should complement HFC’s lubricants and specialty products business. HFC anticipates the acquisition, announced in November, will be immediately accretive to HollyFrontier’s earnings per share, cash flow and EBITDA margins. EVX Midstream Partners acquired the saltwater disposal assets operated by environmental services company Whitewater Resources in......
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