delek closes on lion

Company increases its total interest to 34.5%.

Delek US Holdings has completed the acquisition of a 6.24% equity interest in Lion Oil Co. Total cash paid to the selling shareholders by Delek was approximately $23 million. This acquisition, along with a previously completed transaction, brings Delek’s total equity interest in Lion

Oil to 34.5%.

Lion Oil, a privately held company, owns and operates a 75,000-barrel-per-day, high-conversion crude oil refinery in El Dorado, Ariz., three crude oil pipelines and two refined petroleum products terminals in Memphis and Nashville, Tenn. The two terminals supply products to some of Delek’s 188 convenience stores in the Memphis and Nashville markets.

Delek’s refining segment operates a high conversion, independent refinery, with a design crude distillation capacity of 60,000 barrels per day, in Tyler, Texas. The retail segment markets gasoline, diesel and other refined petroleum products and convenience merchandise through a network of company-operated retail fuel and convenience stores, operated under the MAPCO Express, MAPCO Mart, East Coast, Discount Food Mart, Fast Food and Fuel and Favorite Markets brand names.

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