Sunoco, Carlyle Steam Forward On Philly Refinery Deal

Law360, New York (June 14, 2012, 1:38 PM EDT) -- Sunoco Inc. is barreling forward with its negotiations to sell its stakes in a struggling Philadelphia refinery to private equity firm The Carlyle Group LP, the energy company said Thursday, amid reports that the two are close to finalizing a deal.

After nearly three months of talks, the companies may soon seal a deal to either sell off or form a joint venture so that Sunoco can dispose of the day-to-day responsibilities with the refinery, according to reports by CNBC.

“Our discussions with The Carlyle Group...
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