2 Bidders In Talks For Petroplus' Coryton Refinery: MEP

Law360, New York (May 17, 2012, 7:03 PM EDT) -- A Member of European Parliament reportedly indicated Thursday that two bidders had emerged with interest in buying Petroplus Holdings AG's U.K. oil refinery, which is in trouble after a three-month tolling agreement expired this week.

MEP Richard Howitt said two unnamed bidders were in talks for the Coryton refinery, a revelation that came one day after a temporary arrangement to keep up its operations expired, threatening a shutdown, according to commodity news site Platts.

Howitt, a vocal advocate for keeping the plant open to preserve its...
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.