Petroplus’s Investment Vehicle, PBF Investments, is in Negotiations to Purchase Delaware City Refinery Assets
Press Release Source: Petroplus Holdings AG On Friday January 22, 2010, 1:13 pm EST
ZUG, Switzerland–(BUSINESS WIRE)–Regulatory News:
Petroplus Holdings AG announced today that its investment vehicle, PBF Investments, LLC. is in negotiations to purchase the terminaling assets and shut down refinery assets in Delaware City from the Valero Energy Corporation. There is no specific timetable for the completion of the negotiations and the parties are continuing their discussions.
Petroplus Holdings AG is the largest independent refiner and wholesaler of petroleum products in Europe. Petroplus focuses on refining and currently owns and operates six refineries across Europe: the Coryton Refinery on the Thames Estuary in the United Kingdom, the Belgium Refining Corporation Refinery in Antwerp, Belgium, the Petit Couronne Refinery in Petit Couronne, France, the Ingolstadt Refinery in Ingolstadt, Germany, the Reichstett Refinery near Strasbourg, France, and the Cressier Refinery in the canton of Neuchtel, Switzerland. The refineries have a combined throughput capacity of approximately 752,000 barrels per day. The company also owns the Teesside facility in Teesside, United Kingdom.
Tom Trovato, +41 58 580 1166