Delek US To Sell Retail Assets for $385M
Portfolio Pulse from Benzinga Newsdesk
Delek US announced the sale of its retail assets to FEMSA for $385 million. The company also executed contract amendments and extensions with Delek Logistics, and dropped its interest in the Wink to Webster pipeline. These actions will result in a cash infusion of over $500 million for Delek US with minimal impact on EBITDA. Delek Logistics will benefit from contract extensions, acquisition of Wink to Webster interest, a new processing plant, and acquisition of H2O Midstream.
August 06, 2024 | 11:09 am
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POSITIVE IMPACT
Delek US is selling its retail assets to FEMSA for $385 million, which will result in a cash infusion of over $500 million with minimal impact on EBITDA.
The sale of retail assets and other strategic moves will provide Delek US with significant cash inflow, enhancing its financial position without affecting EBITDA substantially.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Delek Logistics will benefit from contract extensions, acquisition of Wink to Webster interest, a new processing plant, and acquisition of H2O Midstream, enhancing its cash flow growth and distributions.
Delek Logistics will gain from strategic acquisitions and contract extensions, which will boost its cash flow and distributions, making it more attractive to investors.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 80