We should be so lucky! There are about 47.2 MM shares of WNRL outstanding and 80.39MM shares of WNR. SO if they were to spin off the remaining approx. 31MM shares not sold to the public, that would amount to about .385 shares of WNRL for each share of WNR you own. At $24.24 per share, that's worth about $9.35 per WNR share. That would jump the share price substantially.
However WNR has done special dividends in the past, in the 4Q time frame, so they just got over $30MM which could be used to pay down debt or pay a dividend. If they paid out $20MM of that as a divvy, it would be an extra 25 cents per share on top of the regular div. Or since they already have about $4 per share in cash before the $30MM for the IPO, they could raise the regular dividend.
It also makes it easier for someone to buy WNR out because they have so little debt already and now could monetize the remaining WNRL shares, so it would be easy to buy these guys with very little of your own money.