Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
PBF Energy Inc. entered into Subscription Agreement with Eni Sustainable Mobility, a subsidiary of Eni S.p.A. valued at $835 million (effective 2023-06-27).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- Eni Sustainable Mobility, a subsidiary of Eni S.p.A.
- Value
- $835 million
- Effective
- 2023-06-27
Exact text from the filing
On June 27, 2023 (the “Execution Date”), PBF Energy Company LLC (“PBF LLC”), a subsidiary of PBF Energy Inc. (“PBF Energy” and collectively with its consolidated subsidiaries including PBF Holding, the “Company”), closed the Subscription Agreement (the “Subscription Agreement”) with Eni Sustainable Mobility, a subsidiary of Eni S.p.A. (“Eni Sustainable Mobility”), pursuant to which PBF Green Fuels LLC, a subsidiary of the Company (“PBF Member”) and Eni Sustainable Mobility US, Inc., a subsidiary of Eni (“Eni Member” and together with the PBF Member, the “Members” or the “Initial Members”), will partner in a 50-50 joint venture, St. Bernard Renewables LLC (“SBR”) that owns the biorefinery (the “Renewable Diesel Facility”) co-located with the Company’s Chalmette Refinery in Louisiana.
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