Mergers & Acquisitions ·
Par Pacific Holdings announced that Laramie Energy, in which it holds a 46% non-controlling interest, entered into a…
PARRPar Pacific Holdings, Inc.
Par Pacific Holdings announced that Laramie Energy, in which it holds a 46% non-controlling interest, entered into a definitive agreement to sell substantially all of its oil and gas assets for $485 million in cash. The transaction includes potential earn-out payments of up to $65 million. Par Pacific expects to receive approximately $146 million from the sale, net of debt repayment and fees, with about $27.5 million payable on the fifth anniversary. Additionally, Par Pacific is eligible for up to $30 million in earn-outs. The company will exit its investment in Laramie Energy upon closing, which is expected by the end of 2026 subject to regulatory approvals. Par Pacific operates as an energy company providing renewable and conventional fuels across the western United States.