CVR Energy to Buy Two Refineries, Marketing Business From Marathon Petroleum for $4.2 Billion
Bitget2026/11/03 11:28- CVR Energy agreed to acquire two refineries and related marketing operations from Marathon Petroleum for approximately $4.2 billion, before net working capital.
- The deal includes refineries in St. Paul Park, Minnesota, and Mandan, North Dakota, with marketing operations supplying up to 590 branded locations.
- Crude throughput capacity would increase from approximately 207,000 to 384,000 barrels per day, with expected annual synergies of approximately $70 million.
- The acquired business generated approximately $1.2 billion in EBITDA for the 12 months ended September 30, 2026.
- Closing is expected by year-end 2026, subject to regulatory clearance and customary conditions.
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