Enterprise acquires Diamond-Koch's Propylene fractionation business
HOUSTON--Enterprise Products Partners L.P. announced that its operating partnership has executed a letter of intent to acquire, for cash, a propylene fractionation business from D-K Diamond Koch L.L.C., Diamond-Koch L.P. and Diamond-Koch III L.P.
This propylene fractionation business includes a 66.66% equity interest in a polymer grade propylene fractionation facility in Mont Belvieu, Texas; a 50 percent equity interest in a polymer grade propylene export terminal located on the Houston Ship Channel; and equity interests in four pipelines which distribute product to customers and to the export terminal.