CALUMET SPECIALTY PRODUCTS PARTNERS, L.P. (NASDAQ:CLMT) Files An 8-K Completion of Acquisition or Disposition of AssetsItem 2.01 Completion of Acquisition or Disposition.
On November 8, 2017, Calumet Refining, LLC, a Delaware limited liability company (f/k/a Calumet Lubricants Co., Limited Partnership, an Indiana limited partnership) and a wholly-owned subsidiary of Calumet Specialty Products Partners, L.P. (the “Company”) completed its previously announced sale to Husky Superior Refining Holding Corp. of all of the issued and outstanding membership interests in Calumet Superior, LLC (“Superior”), which owns a refinery located in Superior, Wisconsin (the “Superior Refinery”) and associated inventories, the Superior Refinery’s wholesale marketing business and related assets, including certain owned or leased product terminals, and certain crude gathering assets and line space in North Dakota (the “Transaction”) for net proceeds of approximately $492 million in cash, which includes payment for net working capital, inventories and reimbursement of certain capital spending. The cash consideration is subject to certain purchase price adjustments relating to, among other things, final net working capital adjustments.
Item 2.01. Regulation FD Disclosure.
On November 8, 2017, the Company issued a press release announcing the completion of the Transaction. The press release is furnished and attached as Exhibit 99.1 hereto and is incorporated herein by reference.
The information furnished is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
Item 2.01. Financial Statements and Exhibits.
(b) Pro Forma Financial Information
The Company’s Unaudited Pro Forma Consolidated Balance Sheet as of June 30, 2017 and Unaudited Pro Forma Consolidated Statement of Operations for the year ended December 31, 2016 and the six months ended June 30, 2017 (collectively, the “Unaudited Pro Forma Consolidated Financial Statements”) together with the notes thereto, are attached hereto and incorporated herein as Exhibit 99.2 hereto.
(d) Exhibits
Calumet Specialty Products Partners, L.P. ExhibitEX-99.1 2 clmt20171108_991.htm EXHIBIT 99.1 Exhibit Exhibit 99.1Calumet Specialty Products Partners,…To view the full exhibit click here
About CALUMET SPECIALTY PRODUCTS PARTNERS, L.P. (NASDAQ:CLMT)
Calumet Specialty Products Partners, L.P. is a producer of specialty hydrocarbon products. The Company operates through three segments. In its specialty products segment, the Company processes crude oil and other feedstocks into a range of customized lubricating oils, white mineral oils, solvents, petrolatums and waxes. Its specialty products are sold to domestic and international customers using its products as raw material components. It also blends and market specialty products through its Royal Purple, Bel-Ray, TruFuel and Quantum brands. In its fuel products segment, the Company processes crude oil into a range of fuel and fuel-related products, including gasoline, diesel, jet fuel, asphalt and heavy fuel oils, and resells purchased crude oil to third-party customers. Its oilfield services segment manufactures and markets products and provides oilfield services, including drilling fluids, completion fluids and solids control services to the oil and gas exploration industry.
