secwatch.observer — SEC 8-K summary
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Issuer:     PAR PACIFIC HOLDINGS, INC. (PARR)
CIK:        0000821483
Form:       8-K
Filed at:   2023-06-01T23:59:59+00:00
Accession:  0001193125-23-158690
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Par Pacific closes $310M acquisition of ExxonMobil Billings refinery; deal valued at ~$638M including inventory
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- Closed acquisition of Billings refinery (63,000 bpd) and Upper Rockies logistics from ExxonMobil; purchase price $310M cash plus ~$290M hydrocarbon inventory.
- Total consideration including ~$38M working capital adjustments; base price funded with cash on hand; inventory financed via $215M ABL facility draw.
- Acquired assets include 70-mile Silvertip Pipeline, 40% stake in 750-mile Yellowstone pipeline, four terminals, and 250 branded retail locations.
- CEO William Pate expects the transaction to be immediately accretive to earnings and cash flow.
- Par Pacific evaluating renewable fuels projects at Billings to reduce carbon intensity under Washington LCFS.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/821483/000119312523158690/0001193125-23-158690-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/821483/000119312523158690/d292719d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-158690

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