SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2019

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

Dividend Declared

On May 1, 2019, PBF Energy, PBF Holding’s indirect parent, announced a dividend of $0.30 per share on its outstanding Class A common stock. The dividend is payable on May 30, 2019 to PBF Energy Class A common stockholders of record at the close of business on May 15, 2019.

TVPC Acquisition

On April 24, 2019, PBFX entered into a Contribution Agreement with PBF LLC, pursuant to which the Company will contribute to PBF LLC, which in turn, will contribute to PBFX all of the issued and outstanding limited liability interests of TVP Holding Company LLC (“TVP Holding”) for total consideration of $200.0 million (the “TVPC Acquisition”). Prior to the TVPC Acquisition, TVP Holding owned a 50% equity investment in TVPC. Subsequent to the completion of the transaction, which is expected to close in the second quarter of 2019, PBFX will own 100% of TVPC.