PBF Energy Completes Acquisition of PBF Logistics Today


   
   OAKHURST, N.J. (DTN) --- PBF Energy Inc. completed the previously announced 
acquisition of all the common units of PBF Logistics not already owned by PBF 
Energy and its subsidiaries for a combination of 0.270 a share of PBF Energy 
Class A common stock and $9.25 in cash, without interest, per PBFX Public 
Common Unit.

   The merger of PBF Logistics with a subsidiary of PBF Energy became effective 
upon the filing of the certificate of merger with the Secretary of State of the 
State of Delaware, which occurred today. As a result of the transaction, PBFX 
Common Units will no longer be listed on the New York Stock Exchange, and it 
will cease to be publicly traded company.

   "On behalf of the Boards of Directors and management team, we thank 
unitholders for their support in completing this significant milestone. We are 
excited to complete the transaction today and look forward to the continued 
success of the combined company," said Tom Nimbley, PBF Energy's and PBF 
Logistics' chairman and CEO.

   PBF Energy Inc., one of the largest independent refiners in North America, 
operates, through its subsidiaries, oil refineries and related facilities in 
California, Delaware, Louisiana, New Jersey, and Ohio.




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