Acquisition of Trucking Logistics Assets from Delek US Holdings, Inc.
Baird served as exclusive financial advisor to the Conflicts Committee of the Board of Directors of the General Partner of Delek Logistics Partners, LP
AboutDelek Logistics Partners, LP (“Delek Logistics” or the “Partnership”) (NYSE: DKL) announced an agreement to acquire trucking logistics assets from Delek US Holdings, Inc. (“Delek”) (NYSE: DK) for total consideration of $48 million in cash.
Delek Logistics is a growth-oriented, publicly-traded master limited partnership formed by Delek in 2012 to own, operate, acquire and construct crude oil and refined products logistics and marketing assets.
The trucking logistics assets are comprised of approximately 150 tractors and 150 trailers, which are primarily leased and owned, respectively. The assets currently transport crude oil, asphalt and other refined products as part of Delek’s Tyler and El Dorado refinery operations. Delek will provide a 10-year minimum revenue commitment to the Partnership on the trucking logistics assets.
Delek is a diversified downstream energy company with assets in petroleum refining, logistics, asphalt, renewable fuels and convenience store retailing. The refining assets consist of refineries operated in Tyler and Big Spring, Texas, El Dorado, Arkansas and Krotz Springs, Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day.
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- May 2020
- Delek Logistics Partners, LP
- Target Location
- North America
- Acquiror Location
- North America