CVR Energy has added historical and pro forma financial statements for the two Marathon Petroleum refineries it has agreed to acquire in Minnesota and North Dakota, along with Marathon’s related marketing business. The materials provide a financial picture of the businesses on a standalone basis and illustrate how the acquisition and related financing would affect CVR.
The acquisition remains pending and is subject to closing conditions, including regulatory approvals. This update does not announce a change to the transaction terms.
Key details
- Assets involved: The financial statements cover Marathon’s Mandan refinery in North Dakota and Saint Paul Park refinery in Minnesota, together with their related refining business.
- Historical results: Audited combined financial statements cover the years ended December 31, 2025 and 2024. PricewaterhouseCoopers issued an audit report on those statements.
- Recent interim results: Unaudited combined statements cover the nine months ended September 30, 2026, with the comparable period in 2025, and include balance-sheet information as of September 30, 2026.
- Illustrative combined view: CVR provided pro forma financial information that reflects the proposed acquisition and related financing. It includes a pro forma balance sheet as of September 30, 2026, and pro forma operating statements for 2025 and the first nine months of 2026 and 2025.
- Limits of the pro forma figures: The combined information is illustrative. It does not establish what CVR’s actual financial position or results would have been had the transaction closed on those dates, nor does it predict future performance.
- Closing status: The acquisition has not been completed and remains subject to conditions in the purchase agreement, including required regulatory approvals. The materials do not provide assurance that the transaction or its financing will close.
What this changes for investors
The update adds financial detail for evaluating the proposed acquisition, but it does not itself complete the deal or alter its terms. The historical statements show the acquired businesses’ past results; the pro forma statements offer a hypothetical view of CVR with the transaction and financing reflected.