Delek US Holdings, Inc. (NYSE: DK) announced today that its wholly-owned subsidiary, Delek Logistics Partners, LP, a Delaware limited partnership (“Delek Logistics”), has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to its proposed initial public offering of common units representing limited partner interests. Application will be made to list the common units of Delek Logistics on the New York Stock Exchange under the symbol “DKL.”
Delek Logistics was formed by Delek US to own, operate, acquire and construct crude oil and refined products logistics and marketing assets. Delek Logistics’ initial assets are expected to consist of:
- Approximately 200 miles of transportation pipelines and a 600 mile crude oil gathering system, in addition to associated storage facilities with 1.4 million barrels of active shell capacity supporting Delek US’ El Dorado and Tyler refineries;
- The Paline pipeline, a 185 mile crude oil pipeline from Longview to Nederland, Texas;
- Delek US’ wholesale marketing business in Texas; and
- Five light product terminals, consisting of the Abilene, Big Sandy and San Angelo terminals in Texas and the Nashville and Memphis terminals in Tennessee.
BofA Merrill Lynch and Barclays are acting as joint book-running managers and structuring agents for the proposed offering. This offering of common units will be made only by means of a prospectus. When available, a written prospectus, which meets the requirements of Section 10 of the Securities Act of 1933, may be obtained through:
A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.