 Delek US Holdings, Inc. NYSE: DK Delek US and Delek Logistics Partners, LP NYSE: DKL Delek Logistics today announced the execution and closing of a definitive agreement to eliminate all incentive distribution rights IDRs in Delek Logistics held by its general partner GP and convert its 2.0 economic general partner interest into a non-economic general partner interest in exchange for 14 million newly issued DKL common limited partner units and 45 million in cash. The newly issued DKL common limited partner units have a total equity value of approximately 484 million based on the DKL common limited partner unit closing price of 34.59 on August 12, 2020, or 442 million based on a 10-day volume weighted average price of 31.56. 