Delek US Announces Agreement to Dropdown Logistic Assets to Delek Logistics
Delek US Holdings, Inc. (DK)
Last delek us holdings, inc. earnings: 2/25 04:15 pm
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US:NYSE Investor Relations:
delekus.gcs-web.com/investor-overview
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Source: GlobeNewswire
BRENTWOOD, Tenn., March 31, 2020 (GLOBE NEWSWIRE) -- Delek US Holdings, Inc. (NYSE: DK) (“Delek US”) and Delek Logistics Partners, LP (NYSE: DKL) (“Delek Logistics”) today announced an agreement for the dropdown of the Big Spring gathering system to Delek Logistics for total consideration of $100 million in cash and 5.0 million common units representing limited partnership interest in Delek Logistics. The transaction is effective March 31, 2020, and is expected to be immediately accretive to Delek Logistics' distributable cash flow per unit. These assets and services are projected to generate incremental annual earnings before interest, taxes, depreciation and amortization (EBITDA) of approximately $30 to $32 million. Delek Logistics will finance the cash component of this dropdown through a combination of cash on hand and borrowings on the revolving credit facility. "This adds the next step in growth for Delek Logistics,” said Uzi Yemin, Chairman, President and Chief Executive Of
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DK
Earnings
- 2/27/24 - Miss
DK
Sec Filings
- 5/2/24 - Form 8-K
- 5/2/24 - Form 8-K
- 4/9/24 - Form 4
- DK's page on the SEC website