Sinclair Oil Corporation to Combine Refining and Logistics Assets and Related Operations with HollyFrontier Corporation and Holly Energy Partners, L.P.
Vinson & Elkins advised The Sinclair Companies, a privately held company that wholly owns Sinclair Oil Corporation, in connection with definitive agreements to combine substantially all of Sinclair Oil’s refining, renewable diesel, and logistics assets with those of HollyFrontier Corporation (“HollyFrontier”) and Holly Energy Partners, L.P. (“HEP”), a HollyFrontier-affiliated midstream master limited partnership.
As part of the transaction, HollyFrontier will form a new parent company called “HF Sinclair Corporation.” Under the agreements, Sinclair Oil’s branded marketing business and all related commercial activities and its refineries and related operations and assets in Casper and Sinclair, Wyoming, will combine with HollyFrontier. Sinclair Oil’s logistics and storage assets, including approximately 1,200 miles of pipelines, two crude oil terminals and eight light product terminals, will combine with HEP.
The V&E corporate team was led by partners Scott Wulfe and Alan Beck and senior associate Mike Marek, with assistance from associates Farah Chranya, Helen Xiang and Matt Fiorillo. Also advising were senior associate Jing Tong and associates Mariam Boxwala, Sang Lee, Chandler Spinks and Libby Gerstner; partners Gary Huffman and Lina Dimachkieh, counsel Mary Alexander, senior associate Brian Russell and associate Olivia Sher; partner Thomas Wilson and senior associate Alex Bluebond; partner David D’Alessandro, counsel Regina Ibarra and associate Mary Daniel Morgan; partner Devika Kornbacher and senior associate Sean Hill; partner Larry Nettles, counsel Corinne Snow and associate Kevin Moscon; counsel Scot Dixon; counsel Sarah Mitchell; partner Darren Tucker, senior associates Evan Miller and Ryan Will and associate Natalie Cardenas; partner David Wicklund, senior associate Caitlin Snelson and associates Joe Higdon and Jeremy Gopin; and counsel Damien Lyster and associates Ryan Hoeffner and Michael Carroll.
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