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Valero To Buy Murphy Refinery For $625M
Murphy Oil USA is selling its Meraux refinery in Louisiana to a unit of Valero Energy for $325 million.
Murphy Oil USAis selling its Meraux refinery in Louisiana to a unit ofValero Energyfor $325 million. The deal also includes hydrocarbon inventory valued at about $300 million.
The sale is part of the firm’s repositioning strategy to quit the refining business and offload its U.K. assets.Davis Polk & Wardwellis the legal counsel andGoldman Sachsthe financial adviser to Murphy for the transaction.
Click here for the release fromBusiness Wire.