Alon USA Energy, Inc. Provides Update on the Activities of its Special Committee to Review Strategic Alternatives

DALLAS, July 11, 2016 /PRNewswire/ -- As noted in the Alon USA Energy, Inc. (NYSE: ALJ) ("Alon") proxy statement, filed with the SEC on April 1, 2016, Alon's Board of Directors has formed a Special Committee (the "Special Committee"). The Special Committee is comprised of directors having no affiliation with Delek US Holdings, Inc. ("Delek"). Since its formation, the Special Committee has reviewed a number of strategic alternatives, a potential business combination with Delek, the analysis of capital investments, shareholder distributions, a sale or merger and a spin-off or separation of a selected business.

The Special Committee has set no timetable for the strategic review process and has not made a decision to pursue any particular transaction, and there can be no assurance that any transaction will be approved or consummated. Alon does not intend to disclose or comment on further developments regarding the review of strategic alternatives until it determines that such disclosure or comment is appropriate or necessary.

The Special Committee has retained J.P. Morgan as its financial advisor and Gibson Dunn as its legal advisor to assist in the assessment of strategic alternatives.

Alon USA Energy, Inc., headquartered in Dallas, Texas, is an independent refiner and marketer of petroleum products, operating primarily in the South Central, Southwestern and Western regions of the United States. Alon owns 100% of the general partner and 81.6% of the limited partner interests in Alon USA Partners, LP (NYSE: ALDW), which owns a crude oil refinery in Big Spring, Texas, with a crude oil throughput capacity of 73,000 barrels per day and an integrated wholesale marketing business. In addition, Alon directly owns a crude oil refinery in Krotz Springs, Louisiana, with a crude oil throughput capacity of 74,000 barrels per day. Alon also owns crude oil refineries in California, which have not processed crude oil since 2012. Alon is a leading marketer of asphalt, which it distributes primarily through asphalt terminals located predominately in the Southwestern and Western United States. Alon is the largest 7-Eleven licensee in the United States and operates approximately 300 convenience stores which also market motor fuels in Central and West Texas and New Mexico.

SOURCE Alon USA Energy, Inc.

Related Links

http://www.alonusa.com