Form 4: Control Empresarial de Capitales S.A. de C.V. Increases Stake in PBF Energy Inc.

Control Empresarial de Capitales S.A. de C.V., along with the Slim Family, reports increased beneficial ownership in PBF Energy Inc. through recent Class A Common Stock purchases.

Summary

• Control Empresarial de Capitales S.A. de C.V. reported changes in beneficial ownership of PBF Energy Inc. Class A Common Shares.
• On October 28, 2024, 75,000 shares were purchased at an average price of $31.584.
• On October 29, 2024, an additional 314,000 shares were purchased at an average price of $29.5813.
• Following these transactions, Control Empresarial directly owns 25,340,498 Class A Common Shares.
• The Slim Family, as beneficiaries of a Mexican trust that owns Control Empresarial, may be deemed to indirectly beneficially own these shares.
• These shares represent approximately 21.6% of the 117,149,510 issued and outstanding Class A Common Shares of PBF Energy Inc.

Sentiment

Score: 7

Explanation: The increased stake suggests confidence from a major shareholder, which is generally a positive signal. However, it's a routine filing, so the impact is moderate.

Positives

• Increased investment by a major shareholder, Control Empresarial, could signal confidence in PBF Energy's future prospects.

Industry Context

Increased ownership by a significant shareholder can be viewed positively by the market, potentially influencing investor sentiment towards PBF Energy Inc. within the refining industry.

Stakeholder Impact

• Shareholders may view the increased stake positively.
• Employees may see it as a sign of stability.
• Creditors may perceive reduced risk.

Key Dates