Nov. 19--Koch Hydrocarbon Co. and Ultramar Diamond Shamrock are forming a venture that the two companies say will create a leader in the Texas Gulf Coast natural gas liquids and petrochemicals business.
UDS of San Antonio will merge certain assets with Koch Hydrocarbon, a division of Wichita-based Koch Industries.
Financial terms were not disclosed.
The assets the two companies are bringing into the deal are expected to include properties in which both companies already have an interest, plus properties they own separately. They include certain UDS and Koch pipeline and supply systems in Texas.
"These assets fit together …