Investors To Buy Marathon Oil Assets For $900M

Law360, New York (October 6, 2010, 7:26 PM EDT) -- Two groups of investors said Wednesday they will buy most of Marathon Oil Corp.'s Minnesota downstream assets from a subsidiary for about $900 million as Marathon seeks to realign its asset portfolio.

ACON Investments LLC and TPG Capital LP will purchase as equal partners a refinery and pipeline interests, and form a new stand-alone company to operate them, to be called Northern Tier Energy LLC, the parties announced Wednesday.

“The assets we are acquiring are strategically well positioned to withstand the challenges of the global market...
To view the full article, register now.