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PBF Energy Announces Closing of Terminal Assets Sale
PBF Energy Announces Closing of Terminal Assets Sale PR Newswire PARSIPPANY...
About this update from Planet Based Foods Global, Inc.
[{"type":"text","content":"PBF Energy Announces Closing of Terminal Assets Sale\n\n\n\n PBF Energy Announces Closing of Terminal Assets Sale\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n PR Newswire\n \n\n\n\n\n\n PARSIPPANY, N.J.\n \n\n ,\n \n\n Sept. 30, 2025\n \n\n /PRNewswire/ -- PBF Energy Inc. (NYSE: PBF) today announced the closing of the sale of terminal assets previously agreed on\n \n April 30, 2025\n \n , and announced on\n \n May 1, 2025\n \n . PBF Energy, through a subsidiary of PBF Logistics LP, has sold two refined product terminal facilities located in\n \n Philadelphia, PA\n \n and\n \n Knoxville, TN\n \n for $175 million in cash. The combined assets include 38 storage tanks with approximately 1.9 million barrels of storage capacity, and associated truck racks. The transaction closed on\n \n September 30, 2025\n \n .\n \n\n\n\n\n\n\n\n\n\n Karen Davis\n \n , PBF Energy's CFO, said, \"We are pleased to have monetized these non-core assets and, in conjunction, increased liquidity for PBF. As stewards of the company's capital, we continuously review our portfolio for opportunities to maximize value for investors.\"\n \n\n Barclays served as the exclusive financial advisor to PBF.\n \n\n\n Forward-Looking Statements\n \n\n Statements in this press release relating to future plans, results, performance, expectations, achievements, and the like are considered \"forward-looking statements\" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the Company's expectations with respect to its plans, objectives, expectations, and intentions with respect to the full and partial restart of the Martinez refinery following the\n \n February 1, 2025\n \n fire, the timing of such restart, the throughput of the Martinez refinery and anticipated insurance recoveries related to the fire, the amount and the timing of cost savings and operational efficiencies to be achieved through the Company's Refining Business Improvement Initiatives as well as the Company's future earnings and operations overall, including those of our...