HF Sinclair completed the acquisition of a 52.84% stake in Holly Energy Partners for $1.44bn.

HF Sinclair, a petroleum refineries company, completed the acquisition of a 52.84% stake in Holly Energy Partners, a provider of petroleum product and crude oil transportation, for $1.44bn. “We are pleased to announce this strategic transaction which we believe simplifies our corporate structure, reduces costs and further supports the integration and optimization of our portfolio. We expect the transaction to be accretive to earnings per share and available free cash flow within the first twelve months, further supporting our capital allocation strategy of returning excess cash to shareholders," Tim Go, HF Sinclair Chief Executive Officer and President.