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Section 1: SC 13G/A (SC 13G/A)

SC 13G/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 03)*

 

 

Westlake Chemical Partners LP

(Name of Issuer)

Common Units Representing Limited Partner Interests, No Par Value

(Title of Class of Securities)

960417 103

(CUSIP Number)

December 31, 2017

(Date of Event Which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☐ Rule 13d-1(c)

☒ Rule 13d-1(d)

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No. 960417 103

 

  1   

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

WPT LLC

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ☒        (b)  ☐

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH:

     

SOLE VOTING POWER

 

0

   6   

SHARED VOTING POWER

 

14,122,230

   7   

SOLE DISPOSITIVE POWER

 

0

   8   

SHARED DISPOSITIVE POWER

 

14,122,230

  9  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

14,122,230

10  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

43.8%

12  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

OO

FOOTNOTES

The percent of class reported is based on 32,234,730 common units outstanding as of January 26, 2018.


CUSIP No. 960417 103

 

  1   

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

Westlake Polymers LLC

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ☒        (b)  ☐

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH:

     

SOLE VOTING POWER

 

0

   6   

SHARED VOTING POWER

 

14,122,230

   7   

SOLE DISPOSITIVE POWER

 

0

   8   

SHARED DISPOSITIVE POWER

 

14,122,230

  9  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

14,122,230

10  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

43.8%

12  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

OO

FOOTNOTES

The percent of class reported is based on 32,234,730 common units outstanding as of January 26, 2018.


CUSIP No. 960417 103

 

  1   

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

Westlake Chemical Investments, Inc.

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ☒        (b)  ☐

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH:

     

SOLE VOTING POWER

 

0

   6   

SHARED VOTING POWER

 

14,122,230

   7   

SOLE DISPOSITIVE POWER

 

0

   8   

SHARED DISPOSITIVE POWER

 

14,122,230

  9  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

14,122,230

10  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

43.8%

12  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

CO

FOOTNOTES

The percent of class reported is based on 32,234,730 common units outstanding as of January 26, 2018.


CUSIP No. 960417 103

 

  1   

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

Westlake Olefins Corporation

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ☒        (b)  ☐

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH:

     

SOLE VOTING POWER

 

0

   6   

SHARED VOTING POWER

 

14,122,230

   7   

SOLE DISPOSITIVE POWER

 

0

   8   

SHARED DISPOSITIVE POWER

 

14,122,230

  9  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

14,122,230

10  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

43.8%

12  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

CO

FOOTNOTES

The percent of class reported is based on 32,234,730 common units outstanding as of January 26, 2018.


CUSIP No. 960417 103

 

  1   

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

Westlake Chemical Corporation

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ☒        (b)  ☐

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH:

     

SOLE VOTING POWER

 

0

   6   

SHARED VOTING POWER

 

14,122,230

   7   

SOLE DISPOSITIVE POWER

 

0

   8   

SHARED DISPOSITIVE POWER

 

14,122,230

  9  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

14,122,230

10  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

43.8%

12  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

CO

FOOTNOTES

The percent of class reported is based on 32,234,730 common units outstanding as of January 26, 2018.


Item 1.

 

  (a) Name of Issuer

Westlake Chemical Partners LP

 

  (b) Address of Issuer’s Principal Executive Offices
     2801 Post Oak Boulevard, Suite 600
     Houston, TX 77056

Item 2.

 

  (a) Name of Person Filing

WPT LLC

Westlake Polymers LLC

Westlake Chemical Investments, Inc.

Westlake Olefins Corporation

Westlake Chemical Corporation

Westlake Chemical Corporation (“Westlake”) owns 100% of Westlake Olefins Corporation, which owns 100% of Westlake Chemical Investments, Inc., which owns 100% of Westlake Polymers LLC, which owns 100% of WPT LLC.

 

  (b) Address of Principal Business Office or, if none, Residence

2801 Post Oak Boulevard, Suite 600

Houston, TX 77056

 

  (c) Citizenship

Each of WPT LLC and Westlake Polymers LLC is a Delaware limited liability company.

Each of Westlake Chemicals Investments, Inc., Westlake Olefins Corporation and Westlake Chemical Corporation is a Delaware corporation.

 

  (d) Title of Class of Securities

Common units representing limited partner interests.

 

  (e) CUSIP Number
     960417 103

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

 

(a)    

      Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b)    

      Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c)    

      Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d)    

      Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).

(e)    

      An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

(f)     

      An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);

(g)    

      A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h)    

      A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i)     

      A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j)     

      A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J).

(k)    

      A group, in accordance with § 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:


Item 4. Ownership.

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

The information provided below is applicable to each reporting person. The percent of class reported is based on 32,234,730 common units outstanding as of January 26, 2018.

 

  (a) Amount beneficially owned: 14,122,230

 

  (b) Percent of class: 43.8%

 

  (c) Number of shares as to which the person has:

 

  (i) Sole power to vote or to direct the vote: 0

 

  (ii) Shared power to vote or to direct the vote: 14,122,230

 

  (iii) Sole power to dispose or to direct the disposition of: 0

 

  (iv) Shared power to dispose or to direct the disposition of: 14,122,230

Item 5. Ownership of Five Percent or Less of a Class

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following  ☐ .

N/A

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

N/A

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company

N/A

Item 8. Identification and Classification of Members of the Group

WPT LLC (OO)

Westlake Polymers LLC (OO)

Westlake Chemical Investments, Inc. (CO)

Westlake Olefins Corporation (CO)

Westlake Chemical Corporation (CO)

Item 9. Notice of Dissolution of Group

N/A

Item 10. Certification

Not applicable.


SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

    WPT LLC
Date: January 26, 2018     By:  

/s/ ALBERT CHAO

      Name: ALBERT CHAO
      Title: President of Westlake Chemical Investments, Its manager
    WESTLAKE POLYMERS LLC
Date: January 26, 2018     By:  

/s/ ALBERT CHAO

      Name: ALBERT CHAO
      Title: President of Westlake Chemical Investments, Its manager
    WESTLAKE CHEMICAL INVESTMENTS, INC.
Date: January 26, 2018     By:  

/s/ ALBERT CHAO

      Name: ALBERT CHAO
      Title: President
    WESTLAKE OLEFINS CORPORATION
Date: January 26, 2018     By:  

/s/ ALBERT CHAO

      Name: ALBERT CHAO
      Title: President
    WESTLAKE CHEMICAL CORPORATION
Date: January 26, 2018     By:  

/s/ ALBERT CHAO

      Name: ALBERT CHAO
      Title: President and CEO

Footnotes:

Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)

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Section 2: EX-99.1 (EX-99.1)

EX-99.1

EXHIBIT 99.1 JOINT FILING AGREEMENT

Pursuant to Rule 13d-1(k)(1)(iii) of the Securities Exchange Act of 1934, each of the undersigned agrees that a single joint Schedule 13G/A and any further amendments thereto may be filed on behalf of each of the undersigned with respect to the common units held by each of them in Westlake Chemical Partners LP.

Dated: January 26, 2018.

 

WPT LLC
By:  

/s/ ALBERT CHAO

Name:   Albert Chao
Title:  

President of Westlake Chemical

Investments, Its manager

WESTLAKE POLYMERS LLC
By:  

/s/ ALBERT CHAO

Name:   Albert Chao
Title:  

President of Westlake Chemical

Investments, Its manager

WESTLAKE CHEMICAL INVESTMENTS, INC.
By:  

/s/ ALBERT CHAO

Name:   Albert Chao
Title:   President
WESTLAKE OLEFINS CORPORATION
By:  

/s/ ALBERT CHAO

Name:   Albert Chao
Title:   President
WESTLAKE CHEMICAL CORPORATION
By:  

/s/ ALBERT CHAO

Name:   Albert Chao
Title:   President and CEO

[Signature Page—Schedule 13G Joint Filing Agreement]

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