Oil, Gas and Consumable Fuels
Company Overview of Northern Tier Energy LP
Northern Tier Energy LP, a downstream energy company, engages in refining, retail, and logistics operations in the United States. The company operates through two segments, Refining and Retail. The Refining segment operates a 102,000 barrels per stream day refinery in St. Paul Park, Minnesota that offers refined products, including gasoline, diesel, jet fuel, kerosene, asphalt, propane, propylene, and sulfur to resellers and consumers primarily in the Petroleum Administration for Defense District II region. This segment also owns various storage and transportation assets, such as light products terminal, heavy products terminal, storage tanks, rail loading/unloading facilities, and Mississip...
1250 West Washington Street
Tempe, AZ 85281
Founded in 2010
Key Executives for Northern Tier Energy LP
Chief Executive Officer of Northern Tier Energy GP LLC, President of Northern Tier Energy GP LLC and Director of Northern Tier Energy GP LLC
Chief Financial Officer of Northern Tier Energy GP LLC and Executive Vice President of Northern Tier Energy GP LLC
Executive Vice President of Northern Tier Energy GP LLC, General Counsel of Northern Tier Energy GP LLC and Secretary of Northern Tier Energy GP LLC
Chief Commercial Officer of Northern Tier Energy GP LLC and Senior Vice President of Northern Tier Energy GP LLC
Chief Accounting Officer of Northern Tier Energy GP LLC and Vice President of Northern Tier Energy GP LLC
Compensation as of Fiscal Year 2016.
Northern Tier Energy LP Key Developments
Faruqi & Faruqi, LLP Files Class Action Lawsuit Against Northern Tier Energy LP
Aug 26 16
Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the District of Arizona, case no. 2:16-cv-02844, on behalf of unitholders of Northern Tier Energy LP who held NTI securities on the record date, May 23, 2016, and have been harmed by NTI's and its board of directors' (the "Board") alleged violations of Sections 13(e), 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Securities and Exchange Commission ("SEC") Rules 14a-9 and 13e-3 in connection with the going private transaction between NTI and Western Refining Inc. ("WNR"). The complaint also asserts claims against WNR and NTI's financial advisor, Evercore Group L.L.C., for alleged violations of Sections 13(e) and 14(a) of the Exchange Act and SEC Rules 14a-9 and 13e-3. The complaint alleges that the proxy statement/prospectus (the "Proxy") filed with the SEC on May 23, 2016 provided materially incomplete and misleading information about the Company and the Proposed Transaction, in violation of Sections 13(e), 14(a) and 20(a) of the Exchange Act and SEC Rules 14a-9 and 13e-3. The Proxy failed to provide NTI's shareholders with material information concerning the financial and procedural fairness of the Transaction.
Northern Tier Energy LP Requests NYSE To File Form 25 With SEC To Delist Its Common Units From NYSE And To Deregister The Common Units
Jun 29 16
On June 23, 2016, Western Refining, Inc. completed its previously announced acquisition of all of the outstanding common units of Northern Tier Energy LP not already owned by Western Refining, pursuant to the terms of the Agreement and Plan of Merger dated as of December 21, 2015, by and among Western Refining, Western Acquisition Co, LLC (MergerCo), Northern Tier Energy LP and Northern Tier Energy GP LLC (Merger Agreement). The acquisition was accomplished by the merger of MergerCo with and into Northern Tier Energy LP, and upon consummation of the Merger, MergerCo ceased to exist and Northern Tier Energy LP became a wholly-owned subsidiary of Western Refining. Immediately prior to the closing of the Merger, Western Refining and its subsidiaries owned approximately 38.3% of the outstanding common units representing limited partner interests in Northern Tier Energy LP. In connection with consummation of the Merger, the New York Stock Exchange (NYSE) was notified on June 23, 2016, that each Northern Tier Energy LP Common Unit issued and outstanding immediately prior to the Effective Time and not owned by Western Refining, Inc. or any of its subsidiaries was converted pursuant to the Merger into the right to receive the Merger Consideration, subject to the terms and conditions of the Merger Agreement. Northern Tier Energy LP requested that the NYSE file a Form 25 with the Securities and Exchange Commission (SEC) to delist the Northern Tier Energy LP Common Units from the NYSE and to deregister Northern Tier Energy LP’s Common Units under Section 12(b) of the Securities Exchange Act of 1934, as amended. Northern Tier Energy LP’s Common Units were suspended from trading on the NYSE prior to the opening of trading on June 24, 2016.
Northern Tier Energy LP Declares Second Quarter 2016 Distribution, Payable on June 24, 2016
Jun 13 16
Northern Tier Energy LP and its subsidiaries announced the declaration of a cash distribution of $0.18 per common unit for the prorated period April 1, 2016, through June 13, 2016. Subject to the approval of Northern Tier’s common unit holders at the company’s special unitholder meeting on June 23, 2016, and other closing conditions, the merger is currently expected to close on or about June 24, 2016.
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