Status:  Upcoming/New Filing

Acquirer:  Husky Oil Operations Limited (Canada); Husky Superior Refining Holding Corp. (US)

Acquired:  Calumet Superior, LLC (US)

Value:  Approx. US$435 million

Industry:  Oil and Gas

On August 11, 2017, Calumet Lubricants Co., Limited Partnership, an Indiana limited partnership and a wholly-owned subsidiary of Calumet Specialty Products Partners, L.P. entered into an agreement with Husky Superior Refining Holding Corp., a Delaware corporation and indirectly wholly owned subsidiary of Husky Oil Operations Limited, an integrated energy company headquartered in Calgary, Alberta, pursuant to which Husky will acquire from Calumet Lubricants all of the issued and outstanding membership interests in Calumet Superior, LLC, a Delaware limited liability company that owns a refinery located in Superior, Wisconsin.  (See Calumet Specialty Products Partners, L.P., Form 8-K, Aug. 14, 2017, SEC Filing.)  The refinery’s business includes “certain owned or leased product terminals, and certain crude gathering assets and line space in North Dakota.”  (Id.)   The transaction is expected to close in the fourth quarter of 2017, and is subject to customary closing conditions and the receipt of regulatory approvals, including clearance from CFIUS. (see id.; Section 10.4, Membership Interest Purchase Agreement, Calumet Specialty Products Partners, L.P., Form 8-K, Ex-2.1, Aug. 14, 2017, SEC Filing.)  The parties agreed to prefile a draft joint notice within 20 business days of August 11, 2017. (See Section 7.3, Membership Interest Purchase Agreement, Calumet Specialty Products Partners, L.P., Form 8-K, Ex-2.1, Aug. 14, 2017, SEC Filing.)