Delek US Holdings, Inc. (NYSE:DK) has commenced a program to sell up to 434,590 common limited partner units in Delek Logistics Partners, LP (NYSE:DKL) over the next three months in open market transactions conducted pursuant to Rule 144 under the Securities Act of 1933, as amended, and a Rule 10b5-1 trading plan. The program is intended to monetize a portion of the current 80% ownership DK maintains in DKL and highlight the tangible value of this ownership that we believe is not currently reflected in the DK stock price. Simultaneously, we believe additional liquidity and float will ultimately benefit DKL unitholders through improved trading volumes and increasing the pool of potential investors.
Management will continue to seek opportunities to monetize incremental units over time with a focus on protecting DKL unitholders and the remaining ownership stake.
