Delek us holdings announces closing of bakersfield refinery sale

Brentwood, tenn., may 07, 2020 (globe newswire) -- delek us holdings, inc. (nyse: dk) (“delek”) announced today that it has closed the sale of the equity interests in alon bakersfield property, inc., an indirect wholly-owned subsidiary that owns a refinery in bakersfield, california, to a subsidiary of global clean energy holdings, inc., a southern california-based renewable energy company, for total cash consideration of $40 million. with the sale, delek expects to eliminate approximately $14 million in annual operating expenses related to the business. additionally, the closing of the transaction will allow delek to eliminate certain environmental and asset retirement liability reserves currently on the balance sheet.
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