KKR Affiliate, Others To Keep Petroplus Plant Running

Law360, New York (February 15, 2012, 4:19 PM EST) -- Morgan Stanley Capital Group Inc., KKR Asset Management LLC and AtlasInvest have teamed up to keep the U.K. facility of bankrupt Petroplus Holdings AG running for at least the next three months, the oil refiner's administrator PricewaterhouseCoopers LLP said Wednesday.

The consortium has signed a third-party tolling agreement at the Coryton refinery that will ensure crude oil is delivered for processing to the 220,000-barrels-a-day facility for at least an initial three-month period.

Terms of the deal were not disclosed.

“I am delighted to have reached this...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.