PBF Energy to Purchase the Chalmette Refinery and Related Logistics Assets
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Exxon Mobil (XOM) to Sell Chalmette Refining Stake (PBF)
June 18, 2015 11:47 AM EDTExxon Mobil (NYSE: XOM) has reached an agreement with PBF Energy, Inc. (NYSE: PBF), for the sale and purchase of its 50 percent interest in Chalmette Refining, LLC in Chalmette, Louisiana.
PBF Energy will purchase 100 percent of Chalmette Refining, LLC, which is a joint venture... More
PBF Energy (PBF) to Purchase Chalmette Refinery, Other Assets for $322M Plus Working Capital
June 18, 2015 11:36 AM EDTPBF Energy Inc. (NYSE: PBF) announced today that its subsidiary has signed a definitive agreement to purchase Chalmette Refining, LLC, consisting of the 189,000 barrel per day Chalmette Refinery and related logistics assets, from ExxonMobil and PDV Chalmette, LLC. With the acquisition PBF will increase its total throughput capacity to over 725,000 barrels per day. The purchase price for the assets is $322 million, plus working capital including inventory to be valued at closing. PBF Energy does not expect to issue equity to finance any portion of this transaction. The transaction is expected to be approximately 20% accretive... More
