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07/12/12
Delek US Subsidiary Files Registration Statement for Initial Public Offering of Logistics MLP

BRENTWOOD, Tenn.--(BUSINESS WIRE)--Jul. 12, 2012-- 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:

   

BofA Merrill Lynch

Prospectus Department

222 Broadway, 7th Floor

New York, NY 10038

(212) 449-1000

dg.prospectus_requests@baml.com

Barclays

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY 11717

(888) 603-5847

barclaysprospectus@broadridge.com

 

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.

Safe Harbor Provisions Regarding Forward Looking Statement

This press release contains “forward-looking” statements within the meaning of the federal securities laws. These statements contain words such as “possible,” “intend,” “will,” “if” and “expect” and can be impacted by numerous factors, including the risk that an initial public offering of Delek Logistics may not occur, risks relating to the securities markets generally, the impact of adverse market conditions affecting business of Delek US or Delek Logistics, adverse changes in laws including with respect to tax and regulatory matters and other risks. There can be no assurance that actual results will not differ from those expected by management of Delek US or Delek Logistics. For more information concerning factors that could affect these statements, see the registration statement relating to these securities and Delek US’ most recent annual report on Form 10-K, each filed with the SEC. Neither Delek US nor Delek Logistics undertake any obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or which Delek US or Delek Logistics becomes aware of, after the date hereof.

About Delek US Holdings, Inc.

Delek US Holdings, Inc. is an integrated downstream energy business focused on petroleum refining, the wholesale distribution of refined products and convenience store retailing. The refining segment consists of refineries operated in Tyler, Texas and El Dorado, Arkansas with a combined nameplate production capacity of 140,000 barrels per day. The marketing and supply segment markets refined products through a series of owned and third-party product terminals and pipelines. The retail segment supplies fuels and merchandise through a network of approximately 375 company-operated convenience store locations operated under the MAPCO Express®, MAPCO Mart®, East Coast®, Fast Food and Fuel™, Favorite Markets®, Delta Express® and Discount Food Mart™ brand names.

Source: Delek US Holdings, Inc.

U.S. Investor / Media Relations Contact:
Delek US Holdings, Inc.
Assi Ginzburg, 615-224-1158
Executive Vice President
or
Alpha IR Group
Chris Hodges, 312-589-3505
Founder & CEO