Saul Ewing Reps PBF In $220M Del. Refinery Purchase

Law360, New York (April 9, 2010, 12:56 PM EDT) -- Valero Energy Corp. has agreed to sell a shuttered crude oil refinery in Delaware City, Del., to PBF Energy Partners LP in a $220 million deal brokered by Delaware Gov. Jack Markell.

The companies jointly announced the sale Thursday. Under the agreement, PBF subsidiaries Delaware City Refining Co. LLC and Delaware Pipeline Co. LLC will acquire the 190,000 barrel-per-day refinery, terminal and pipeline assets, as well as a power plant complex.

The purchase price consists of $170 million for the idled refinery and related assets and...
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