A Billion-dollar Deal?

Delek US Holdings Inc., of Brentwood, Tenn., is in exclusive negotiations to purchase a U.S. refinery for about $1 billion, a deal that could also land the company 400 to 500 retail locations if the plan pans out, according to documents the company filed with the Securities and Exchange Commission.

Delek did not name the company whose operations it could acquire, and only said it is in preliminary and indefinite negotiation stages to purchase the refinery, which produces between 75,000 and 100,000 barrels per day.

Dow Jones newswire, however, said the profile of two Oklahoma refineries currently on the block match the profile of the unnamed refinery: Valero Energy Corp. and Sunoco Inc., both of which have entertained offers on their facilities.

The assets, Delek said in its SEC filing, would include the refinery and a refined products terminal, fuel transportation trucks and the acquisition or wholesale supply agreement for 400 to 450 retail sites.

Delek U.S. Holdings’ majority owner, Israeli-based Delek Petroleum, said it would provide financial support of up to $200 million for the $1 billion cost.

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