HF Sinclair plans spin-off of Lubricants & Specialties unit into separate public company
DINO•HF Sinclair plans separation of Lubricants & Specialties
HF Sinclair plans to separate its Lubricants & Specialties segment, creating two publicly traded companies.
The transaction is structured as a spin-off via a distribution of shares in the new company to existing shareholders. Each share held is expected to receive new-company shares at a ratio still to be determined.
Completion is targeted within 12-18 months, subject to conditions. The separation is expected to be structured in a tax-efficient manner for the company and shareholders.
