8-K/AOther Events

VALERO ENERGY CORP/TX 8-K/A Report (Aug 17, 2001)

Filed August 17, 2001For Securities:VLO

Summary

This Form 8-K/A filing by Valero Energy Corporation (VLO) is an amendment to a previous filing and specifically concerns the pro forma financial information related to the acquisition of assets from Exxon Mobil Corporation. The acquisition, which closed on May 14, 2000, involved ExxonMobil's Benicia, California refinery, terminal, and Exxon-branded retail assets for a purchase price of $895 million plus an amount for refinery inventories. This amendment supersedes previously filed projected financial information with actual financial statements of the acquired business and pro forma combined financial statements as of March 31, 2000, and for the periods then ended. Investors should note that this filing provides updated financial data for the acquired ExxonMobil assets and how they combine with Valero's existing operations. The inclusion of audited and unaudited financial statements for the acquired business, along with pro forma combined statements, allows for a more accurate assessment of the transaction's impact on Valero's financial position and performance. It's important to recognize that this filing does not intend to update projections for subsequent events but rather to present the financial reality of the acquisition.

Key Highlights

  • 1Amendment to prior Form 8-K/A filing concerning the acquisition of ExxonMobil assets.
  • 2Acquisition involved ExxonMobil's Benicia, California refinery, terminal, and retail assets.
  • 3Purchase price was $895 million plus an amount for refinery inventories.
  • 4Filing includes audited and unaudited financial statements for the acquired ExxonMobil business.
  • 5Presents unaudited pro forma combined financial statements reflecting the acquisition's impact.
  • 6Supersedes all previously filed projected financial information related to this acquisition.
  • 7The filing date is August 17, 2001, with the earliest event date being May 15, 2000.

Frequently Asked Questions

The primary purpose of this filing is to amend previous filings and provide updated financial information, specifically the audited and unaudited financial statements of the acquired ExxonMobil California refinery, terminal, and retail assets, along with pro forma combined financial statements. This supersedes any prior projected financial information.

Valero acquired ExxonMobil's Benicia, California refinery, its associated terminal, and Exxon-branded California retail assets.

The purchase price was $895 million, plus an additional amount for the refinery inventories acquired at the time of closing, which was based on market-related prices.

No, this filing does not intend to update or revise projections to reflect subsequent events or circumstances. Instead, it provides actual financial statements for the acquired business and pro forma combined financial statements, replacing previously filed projected financial information.