Delek Logistics Acquires Remaining Terminal Interests
Ticker: DKL · Form: 8-K · Filed: Jan 3, 2025 · CIK: 1552797
Sentiment: neutral
Topics: acquisition, assets, infrastructure
TL;DR
DKL just bought out DU's stake in Big River & West Memphis terminals + El Dorado pipeline. Full control!
AI Summary
On January 2, 2025, Delek Logistics Partners, LP (DKL) announced the completion of its acquisition of certain assets from Delek US Holdings, Inc. (DK). The transaction involved the acquisition of the remaining 50% interest in the Big River and West Memphis terminals, along with the acquisition of the El Dorado refinery pipeline system. The filing does not specify a dollar amount for this transaction.
Why It Matters
This acquisition consolidates Delek Logistics' ownership in key infrastructure assets, potentially streamlining operations and enhancing its integrated business model.
Risk Assessment
Risk Level: medium — The acquisition involves significant infrastructure assets, and the lack of a disclosed transaction value introduces uncertainty regarding the financial implications.
Key Players & Entities
- Delek Logistics Partners, LP (company) — Acquiring entity
- Delek US Holdings, Inc. (company) — Selling entity
- Big River terminals (company) — Acquired asset
- West Memphis terminals (company) — Acquired asset
- El Dorado refinery pipeline system (company) — Acquired asset
FAQ
What specific assets were acquired by Delek Logistics Partners, LP?
Delek Logistics Partners, LP acquired the remaining 50% interest in the Big River and West Memphis terminals, as well as the El Dorado refinery pipeline system.
When did the acquisition of these assets become effective?
The acquisition was completed on January 2, 2025.
What is the relationship between Delek Logistics Partners, LP and Delek US Holdings, Inc. in this transaction?
Delek Logistics Partners, LP acquired the assets from Delek US Holdings, Inc.
Does the filing specify the financial terms or dollar amount of the acquisition?
No, the filing does not specify a dollar amount for this transaction.
What is the SIC code for Delek Logistics Partners, LP?
The Standard Industrial Classification (SIC) code for Delek Logistics Partners, LP is 4610 (PIPE LINES (NO NATURAL GAS)).
Filing Stats: 976 words · 4 min read · ~3 pages · Grade level 13.1 · Accepted 2025-01-03 06:06:02
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value DK New York Stock Exchang
- $285 m — e price for the Purchased Interests was $285 million, subject to customary closing adj
- $209,299,177.75 — nts, which was paid in a combination of $209,299,177.75 in cash and 2,175,209 common units repr
Filing Documents
- d836229d8k.htm (8-K) — 43KB
- d836229dex101.htm (EX-10.1) — 103KB
- d836229dex991.htm (EX-99.1) — 6KB
- g836229g0103024224345.jpg (GRAPHIC) — 3KB
- g836229g0103024224601.jpg (GRAPHIC) — 3KB
- g836229g0103072240001.jpg (GRAPHIC) — 3KB
- 0001193125-25-000983.txt ( ) — 366KB
- dkl-20250102.xsd (EX-101.SCH) — 5KB
- dkl-20250102_cal.xml (EX-101.CAL) — 1KB
- dkl-20250102_def.xml (EX-101.DEF) — 14KB
- dkl-20250102_lab.xml (EX-101.LAB) — 19KB
- dkl-20250102_pre.xml (EX-101.PRE) — 14KB
- d836229d8k_htm.xml (XML) — 8KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits. 2.1 Membership Interest Purchase Agreement, dated as of December 11, 2024, by and between Gravity Water Holdings LLC and Delek Logistics Partners, LP (incorporated by reference to Exhibit 2.1 to the Partnership's Current Report on Form 8-K filed on December 13, 2024) 10.1 Registration Rights Agreement, dated January 2, 2025, by and between Gravity Water Holdings LLC and Delek Logistics Partners, LP 99.1 Press release of Delek Logistics Partners, LP, issued January 2, 2025 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. SIGNATURE 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: January 2, 2025 DELEK LOGISTICS PARTNERS, LP By: Delek Logistics GP, LLC Its general partner /s/ Reuven Spiegel Name: Reuven Spiegel Title: Executive Vice President and Chief Financial Officer Dated: January 2, 2025 DELEK US HOLDINGS, INC. By: Delek Logistics GP, LLC Its general partner /s/ Reuven Spiegel Name: Reuven Spiegel Title: Executive Vice President and Chief Financial Officer