HollyFrontier Corporation and Holly Energy Partners Announce Combination with Sinclair Oil and Formation of HF Sinclair Corporation
HollyFrontier Corporation (NYSE: HFC) (HollyFrontier) and Holly Energy Partners, L.P. (NYSE: HEP) (HEP), today announced they have entered into definitive agreements under which HollyFrontier and HEP will acquire Sinclair Oil Corporation and Sinclair Transportation Company from The Sinclair Companies (Sinclair).
- HollyFrontier Corporation (NYSE: HFC) (HollyFrontier) and Holly Energy Partners, L.P. (NYSE: HEP) (HEP), today announced they have entered into definitive agreements under which HollyFrontier and HEP will acquire Sinclair Oil Corporation and Sinclair Transportation Company from The Sinclair Companies (Sinclair).
- As part of the transaction, HollyFrontier will form a new parent company, named HF Sinclair Corporation (HF Sinclair), which will replace HollyFrontier as the public company trading on the NYSE.
- HollyFrontier expects to seek the approval of its stockholders under applicable rules of the New York Stock Exchange for the issuance of the HF Sinclair shares to Sinclair.
- Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including HollyFrontier Corporation subsidiaries.