Yemin nixes talk of Mapco spinoff

Don't look for Delek US Holdings to prepare its Mapco Express retail chain for a spinout along the lines of its Delek Logistics division's initial public offering. President and CEO Uzi Yemin this week told analysts and investors on his team's Q3 conference call that he is very happy with the state of Mapco and sees Delek US continuing to build its new concept stores going forward.

[W]e are developing our new business model that when we see a great rate with our mega stores this stores performing very, very well. Our target is to continue build these stores. We are setting the past that there will be 10 to 15 stores and every year and we think that this target should continue for the next two, three years.

HT: Convenience Stores News