CVR Energy stock: Marathon deal includes USD 500 million share offer
Published on 11/13/2026 at 22:16 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSDeal Financing And Closing Path
- CVR Energy plans to acquire Marathon Petroleum's St. Paul Park and Mandan refineries and related marketing operations for USD 4.2 billion plus working capital.
- The financing package includes secured debt, equity commitments from the controlling shareholder and Trafigura, and a USD 500 million common-stock offering.
- The transaction is expected to close by the end of 2026, subject to customary conditions and regulatory clearance.
CVR Energy's planned purchase of two Marathon Petroleum refineries is moving forward with a financing package that includes a USD 500 million common-stock offering. Proskauer said on November 10, 2026, that it advised CVR Energy on the acquisition, financing and equity offering.
The underlying transaction was announced by CVR Energy on November 3. It covers Marathon's St. Paul Park refinery in Minnesota, Mandan refinery in North Dakota and related marketing operations for approximately USD 4.2 billion plus net working capital.
Financing Raises Execution Stakes
According to Proskauer, the package includes USD 2.5 billion of committed secured debt, a USD 500 million equity commitment from CVR Energy's controlling shareholder and an USD 800 million equity investment from Trafigura US Holdings. The law firm also identified the underwritten USD 500 million common-stock offering.
The two refineries would add 177,000 barrels per day of nameplate crude capacity, lifting CVR Energy's combined capacity from approximately 207,000 to approximately 384,000 barrels per day. The acquired marketing platform would supply up to 590 branded locations across the Upper Midwest and Northern Great Plains.
Closing Remains Targeted For Year-End
CVR Energy expects the transaction to close by the end of 2026. Completion remains subject to customary closing conditions and regulatory clearance, including the Hart-Scott-Rodino antitrust process. The transaction has not yet been completed.
CVR Energy Company Facts
- Company: CVR Energy, Inc.
- Ticker: CVI
- Exchange: NYSE
- Business: Petroleum refining and nitrogen fertilizer manufacturing
- Transaction: Acquisition of two Marathon Petroleum refineries and related marketing operations
The broader US equity market is tracked through the S&P 500.
