Delek US Holdings Completes Asset Acquisition/Disposition
Ticker: DK · Form: 8-K · Filed: Oct 4, 2024 · CIK: 1694426
Sentiment: neutral
Topics: acquisition, disposition, assets
TL;DR
Delek US Holdings just closed a deal on assets as of Sept 30. 8-K filed.
AI Summary
Delek US Holdings, Inc. filed an 8-K on October 4, 2024, reporting the completion of an acquisition or disposition of assets as of September 30, 2024. The filing also includes financial statements and exhibits related to this event. The company is incorporated in Delaware and headquartered in Brentwood, Tennessee.
Why It Matters
This filing indicates a significant change in Delek US Holdings' asset portfolio, which could impact its future financial performance and strategic direction.
Risk Assessment
Risk Level: medium — Acquisitions and dispositions of assets can introduce financial and operational risks, depending on the nature and scale of the transaction.
Key Players & Entities
- Delek US Holdings, Inc. (company) — Registrant
- September 30, 2024 (date) — Date of earliest event reported
- October 4, 2024 (date) — Date of Report
- 310 Seven Springs Way, Suite 500, Brentwood, Tennessee 37027 (address) — Principal Executive Office Address
FAQ
What specific assets were acquired or disposed of by Delek US Holdings?
The filing does not specify the exact assets involved in the acquisition or disposition, only that the event was completed as of September 30, 2024.
What is the financial impact of this asset transaction on Delek US Holdings?
The filing does not provide specific financial details or the impact of the transaction; it only reports the completion of the event and includes financial statements and exhibits.
When was the earliest event reported in this 8-K filing?
The earliest event reported is dated September 30, 2024.
What is the primary business of Delek US Holdings?
Delek US Holdings, Inc. is primarily involved in Petroleum Refining, as indicated by its SIC code 2911.
Where is Delek US Holdings, Inc. headquartered?
Delek US Holdings, Inc. is headquartered in Brentwood, Tennessee, at 310 Seven Springs Way, Suite 500.
Filing Stats: 765 words · 3 min read · ~3 pages · Grade level 11.8 · Accepted 2024-10-04 16:04:44
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value DK New York Stock Exchange
- $385 million — oss cash consideration of approximately $385 million (including the purchase of inventories)
Filing Documents
- dk-20240930.htm (8-K) — 31KB
- dkex991-retailclosingrelea.htm (EX-99.1) — 9KB
- dkex992-delekproformafinan.htm (EX-99.2) — 260KB
- dk-20240930_g1.jpg (GRAPHIC) — 767KB
- image_0.jpg (GRAPHIC) — 20KB
- 0001694426-24-000136.txt ( ) — 2331KB
- dk-20240930.xsd (EX-101.SCH) — 2KB
- dk-20240930_lab.xml (EX-101.LAB) — 23KB
- dk-20240930_pre.xml (EX-101.PRE) — 13KB
- dk-20240930_htm.xml (XML) — 3KB
01 Completion of Disposition of Assets
Item 2.01 Completion of Disposition of Assets. On September 30, 2024, Alon Brands, Inc. ("Alon"), a wholly owned subsidiary of Delek US Holdings, Inc. (NYSE: DK) ("Delek"), closed the previously announced transaction to sell 100% of the equity interests in its subsidiaries that own its retail related assets to Emprex Proximity LLC, a Delaware limited liability company ("Emprex") for gross cash consideration of approximately $385 million (including the purchase of inventories) pursuant to that certain Equity Purchase Agreement dated July 31, 2024 (the "Purchase Agreement"), by and among Alon and Emprex. As a part of the transaction, Delek and Emprex have also entered into a supply agreement that provides for Delek's continued supply of fuel to the acquired entities for a period of 10 years following the closing. The above description of the Purchase Agreement and the transactions contemplated thereby does not purport to be complete and is qualified in its entirety by reference to the Purchase Agreement itself, a copy of which was filed as Exhibit 2.1 to the Company's Current Report on Form 8-K filed on August 8, 2024 with the Securities and Exchange Commission and is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. 2.1 < Membership Interest Purchase Agreement, dated July 31, 2024, by and between Alon Brands, Inc. and Emprex Proximity LLC. (incorporated by reference to Exhibit 2.1 to the Company's Form 8-K filed on August 8, 2024). 99.1 # Press release of Delek US Holdings, Inc. issued October 1, 2024. 99.2 # Unaudited pro forma condensed consolidated statements of income for the six months ended June 30, 2024 and the three years ended December 31, 2023, which give effect to the Retail Transaction as if it had occurred on January 1, 2023 and the unaudited pro forma condensed consolidated balance sheet as of June 30, 2024, which gives effect to the Retail Transaction as if it had occurred on June 30, 2024. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. < Certain schedules have been omitted pursuant to Item 601(b)(2) of Regulation S-K. The Company agrees to supplementally furnish a copy of any of the omitted schedules to the United States Securities and Exchange Commission upon request, provided, however, that Delek may request confidential treatment pursuant to Rule 24b-2 of the Exchange Act, as amended, for any schedules or exhibits so furnished. # Filed herewith.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: October 4, 2024 DELEK US HOLDINGS, INC. /s/ Reuven Spiegel Name: Reuven Spiegel Title: Executive Vice President and Chief Financial Officer (Principal Financial Officer)