Blackstone, First Reserve Push $100M Refinery IPO

Law360, New York (November 14, 2011, 5:25 PM EST) -- Private equity firms Blackstone Group LP and First Reserve Corp. on Monday filed to take petroleum refiner PBF Energy Inc. public in a $100 million offering designed to leave the private equity firms in control.

PBF, which owns three oil refineries and produces a range of petroleum products, including gasoline, heating oil and petrochemicals, plans to use the $100 million in proceeds from the IPO to acquire interests in the company from Blackstone and First Energy, according to a filing with the U.S. Securities and Exchange...
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