Murphy Oil (MUR) to Sell Meraux Refinery to Valero (VLO) Unit in $325M Deal
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Murphy Oil Corporation (NYSE: MUR) announced today that it has entered into an asset purchase agreement pursuant to which its wholly-owned subsidiary, Murphy Oil USA, Inc., will sell its refinery in Meraux, Louisiana and related assets.
The Meraux Refinery is being acquired by a subsidiary of Valero Energy Corporation (NYSE: VLO) for a sales price of $325 million plus the value of hydrocarbon inventory, and subject to certain other adjustments.
Davis Polk & Wardwell LLP is acting as legal counsel to Murphy. Goldman, Sachs & Co. is acting as financial advisor to Murphy.
The Meraux Refinery is being acquired by a subsidiary of Valero Energy Corporation (NYSE: VLO) for a sales price of $325 million plus the value of hydrocarbon inventory, and subject to certain other adjustments.
Davis Polk & Wardwell LLP is acting as legal counsel to Murphy. Goldman, Sachs & Co. is acting as financial advisor to Murphy.
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