HollyFrontier to Add DINO Gas Stations With Sinclair Deal (1)

HollyFrontier Corp. and an affiliate have agreed to buy Sinclair Oil Corp. for about $2.5 billion, a move that will expand its oil refining business and add a gas station chain.

The Dallas-based fuel producer will gain closely held Sinclair’s refineries, a renewable-diesel facility and a network of over 300 distributors and 1,500 DINO-branded stations across 30 states. The all-stock transaction is worth about $1.8 billion, the company said in a statement. Holly Energy Partners LP, the company’s midstream business, will acquire Sinclair’s integrated crude and refined products pipelines and terminal assets for $758 million in stock and cash. ...