Valero Acquires Full Control of Merox JV

Ticker: VLO · Form: 8-K · Filed: 2025-01-30T00:00:00.000Z

Sentiment: neutral

Topics: acquisition, joint-venture

Related Tickers: MPC

TL;DR

Valero buys out Marathon's stake in Merox JV, full control incoming.

AI Summary

Valero Energy Corporation announced on January 30, 2025, that it has entered into a definitive agreement to acquire the remaining 50% interest in the Merox joint venture from its partner, Marathon Petroleum Corporation. This transaction is expected to close in the first quarter of 2025.

Why It Matters

This acquisition allows Valero to fully consolidate the Merox joint venture, potentially leading to streamlined operations and greater strategic flexibility in its sulfur recovery business.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of a joint venture acquisition, with no immediate negative financial implications indicated.

Key Players & Entities

FAQ

What is the specific nature of the Merox joint venture's business?

The filing does not explicitly detail the specific business of the Merox joint venture, but it is related to Valero's operations in the petroleum refining sector.

What is the financial consideration for Valero's acquisition of the remaining 50% interest in Merox?

The filing does not disclose the financial consideration for the acquisition.

Who is Valero's partner in the Merox joint venture?

Valero's partner in the Merox joint venture is Marathon Petroleum Corporation.

When is the acquisition of the remaining 50% interest in Merox expected to close?

The acquisition is expected to close in the first quarter of 2025.

What is the filing date of this 8-K report?

This 8-K report was filed on January 30, 2025.

From the Filing

0001193125-25-017279.txt : 20250130 0001193125-25-017279.hdr.sgml : 20250130 20250130162441 ACCESSION NUMBER: 0001193125-25-017279 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20250130 ITEM INFORMATION: Other Events FILED AS OF DATE: 20250130 DATE AS OF CHANGE: 20250130 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VALERO ENERGY CORP/TX CENTRAL INDEX KEY: 0001035002 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 741828067 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13175 FILM NUMBER: 25574079 BUSINESS ADDRESS: STREET 1: P.O. BOX 696000 CITY: SAN ANTONIO STATE: TX ZIP: 78269-6000 BUSINESS PHONE: 2103454524 MAIL ADDRESS: STREET 1: P.O. BOX 696000 CITY: SAN ANTONIO STATE: TX ZIP: 78269-6000 8-K 1 d932187d8k.htm 8-K 8-K VALERO ENERGY CORP/TX false 0001035002 0001035002 2025-01-30 2025-01-30     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 30, 2025     VALERO ENERGY CORPORATION (Exact name of registrant as specified in its charter)       Delaware   001-13175   74-1828067 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)   One Valero Way San Antonio , Texas   78249 (Address of principal executive offices)   (Zip Code) Registrant’s telephone number, including area code: (210) 345-2000     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, par value $0.01 per share   VLO   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR § 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR § 240.12b-2). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 8.01. Other Events. On January 30, 2025, Valero Energy Corporation (together with its consolidated subsidiaries, “Valero” or the “Company”) announced the Company’s preliminary financial and operating results for the fourth quarter and year ended December 31, 2024. Presented below are certain preliminary unaudited financial results for the fourth quarter and full year ended December 31, 2024. The Company has not yet finalized its financial information as of or for the quarter and year ended December 31, 2024 and the actual results may vary from the preliminary results presented here as a result of the completion of the Company’s financial closing procedures or any adjustments that may result from the completion of management&#8

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