Valero Energy To Sell Refinery, Terminal, Pipeline And Power Plant Complex To PBF Energy Partners

June 15, 2010 - PRLog -- Delaware City Refining Company LLC and Delaware Pipeline Company LLC, wholly owned units of PBF Energy Partners LP (PBF Energy), entered into an agreement to acquire the Delaware City refinery, terminal and pipeline assets plus the 218 MW power plant complex, from Valero Energy Corporation (Valero Energy), a provider of refining and retailing of petroleum products, for a purchase consideration of $220 million. The purchase consideration consists of $170 million for the idled refinery and related assets and an additional $50 million for the power plant complex. The Delaware city refinery is a heavy crude oil refinery with a Nelson complexity rating of 11.3 located on a 5,000 acre site on the shore of the Delaware River. Major process units include a fluid coking unit, a fluid catalytic cracking unit, a hydrocracking unit with a hydrogen plant, a continuous catalytic reformer, an alkylation unit, and several hydrotreating units. The refinery's production is sold in the U.S. Northeast via pipeline, barge, and truck distribution. The transaction is expected to close in the second quarter of this year. The closing is conditioned upon certain regulatory approvals and obtaining satisfactory permits from the State of Delaware.

Scope

* Rationale behind PBF Energy Partner's acquisition of Delaware City refinery, terminal and pipeline assets plus the power plant complex
* Strategic Benefits for valero Energy to divest its assets
* Geography covered - US
* Deal Financials and Valuations
* Information on Delaware City Refinery, PBF Energy Partner and Valero Energy

Reasons to buy

* Develop a sound undestanding of the major M&A's, Partnerships, Asset Transactions and Joint Ventures taking place in North American Oil & Gas industry
* Identify the most lucrative segments to leverage on the growth oppurtunities available in the US oil & gas market
* Get a detailed analysis of a deal to enable you to take better decisions
* Know about the major companies, which are adopting a divestment or acquisition strategy to enhance their business portfolios
* Learn about the key fiancial advisors in a particular segment in the Oil & Gas Industry
* Understand the various means of raising funds from the market.

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Report Table of Contents:

1 Table of contents 1
1.1 List of Tables 2
1.2 List of Figures 2
2 GlobalData Deal Analysis 3
2.1 Summary 3
2.2 Deal Overview 3
3 Valero Energy To Sell Refinery, Terminal, Pipeline And Power Plant Complex To PBF Energy Partners 3
3.1 Deal Overview 3
3.2 Deal in Brief 3
3.3 Petroplus Forms a Partnership with the Blackstone Group and First Reserve Corporation to Consolidate its US Refinery Acquisitions Strategy 4
3.4 PBF Energy's Delaware Refinery Acquisition: Petroplus to Expand its Geographical Footprints in the US to Strengthen its Refining Business 6
3.5 Financing of the Acquisition 9
3.6 Valero Energy to Sell its Non- Active Assets to Improve its Business Performance 9
3.7 Deal Financials and Valuations 11
3.7.1 Deal Financials 11
3.7.2 Deal Rationale 11
3.7.3 Detailed Target Information 11
3.7.4 Delaware City Assets Information 11
3.7.5 Transaction Implied Values 11
3.7.6 Detailed Acquirer Information 12
3.7.7 Detailed Vendor Information 12
4 Appendix 13
4.1 About Energy eTrack 13
4.2 Methodology 13
4.2.1 Coverage 13
4.2.2 Secondary Research 14
4.2.3 Primary Research 14
4.2.4 Expert Panel Validation 14
4.3 Contact Us 15
4.4 Disclaimer 15

1.1 List of Tables
Table 1: Petroplus Holdings AG, Performa Acquisition Details, 2010 6
Table 2: Valero Energy, Asset Divestment Details, 2002-08 10
Table 3: Financials of the Deal, 2010 11
Table 4: Target Information 11
Table 5: Delaware City Assets Information, 2010 11
Table 6: Transaction Implied Values, 2010 11
Table 7: Acquirer Information 12
Table 8: Vendor Information 12

1.2 List of Figures
Figure 1: Petroplus Holdings AG, Operations Map, 2010 4
Figure 2: PBF Energy Partners, Partnership Agreement Details 5
Figure 3: Petroplus Holdings AG, Operations Map, Post- acquisition, 2010 6
Figure 4: Delaware Refinery, Product Yield Details, 2010 7
Figure 5: Global Heavy oil Locations and Projected Production Details 8
Figure 6: Petroplus' Refinery Operations, Value-Chain Details, 2010 8
Figure 7: Valero Energy, Operations Map, 2010 9
Figure 8: GlobalData Methodology 13

About GlobalData

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About Fast Market Research

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