NuStar Sells $175M Stake In Refineries To Lindsay Goldberg

Law360, New York (July 06, 2012, 3:31 PM ET) -- NuStar Energy LP will unload half of its asphalt operations to a unit of private equity firm Lindsay Goldberg LLC in a $175 million deal it said will lighten its debt load and position it for growth, the energy company said Friday.

As part of the agreement, the pair will form a joint venture, each with a 50 percent voting interest, to own and operate the refineries. Facilities in New Jersey and Georgia, which have a combined capacity of 104,000 barrels per day, will be transferred...
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