Resilient Media Entertainment

Saturday, July 7, 2012

NuStar Energy to sell 50% stake in asphalt refineries to #privateequity @ArchiveDigger @resilient_ent

@GlamSam Model

Ownership of another Philadelphia-area refinery is about to change. NuStar Energy L.P. said it would sell 50 percent of its asphalt operations, which include refineries in Paulsboro, N.J., and Savannah, Ga., to a joint venture in a transaction expected to be completed by Sept. 30. Lindsay Goldberg L.L.C., a New York private-equity firm with $10 billion under management, will pay $175 million for a 50 percent interest in the joint venture, with San Antonio-based NuStar holding the other 50 percent stake. The two refineries have a combined refining capacity of 104,000 barrels per day.  

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