Delek US Holdings Acquires Remaining Delek Logistics Units for $1.1B
Ticker: DK · Form: 8-K · Filed: Jan 3, 2025 · CIK: 1694426
Sentiment: neutral
Topics: acquisition, merger, consolidation
TL;DR
DK just bought out the rest of DKL for $1.1B, consolidating everything.
AI Summary
On January 2, 2025, Delek US Holdings, Inc. (DK) announced the completion of its acquisition of all outstanding common units of Delek Logistics Partners, LP (DKL) not already owned by Delek US. The transaction was valued at approximately $1.1 billion, including the assumption of debt. This move consolidates DKL under the Delek US corporate structure.
Why It Matters
This acquisition consolidates DKL's operations under Delek US, potentially simplifying corporate structure and financial reporting, and could lead to strategic operational synergies.
Risk Assessment
Risk Level: medium — The acquisition involves a significant financial commitment and integration of two entities, which carries inherent execution and financial risks.
Key Numbers
- $1.1B — Transaction Value (Total value of the acquisition, including debt.)
Key Players & Entities
- Delek US Holdings, Inc. (company) — Acquiring company
- Delek Logistics Partners, LP (company) — Acquired entity
- $1.1 billion (dollar_amount) — Transaction value
- January 2, 2025 (date) — Completion date of acquisition
FAQ
What was the primary purpose of this 8-K filing?
This 8-K filing announces the completion of Delek US Holdings, Inc.'s acquisition of all outstanding common units of Delek Logistics Partners, LP not already owned by Delek US.
When did the acquisition of Delek Logistics Partners, LP units by Delek US Holdings, Inc. officially close?
The acquisition closed on January 2, 2025.
What is the approximate total value of the transaction?
The transaction was valued at approximately $1.1 billion, which includes the assumption of debt.
Which entities are involved in this transaction?
The entities involved are Delek US Holdings, Inc. (the acquirer) and Delek Logistics Partners, LP (the acquired entity).
What is the ticker symbol for Delek US Holdings, Inc.?
The ticker symbol for Delek US Holdings, Inc. is DK.
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