NEW YORK -- Chevron Corp., San Ramon, Calif., has reached an agreement to sell nearly 60 convenience stores and refining facilities after a long search for a buyer.
Private-equity firm One Rock Capital Partners announced this week that it signed an agreement, through its Island Energy Services LLC subsidiary, to purchase 58 retail service stations, four product distribution terminals, pipeline distribution systems and other related downstream assets in Hawaii. The deal includes the 58,000-barrel-per-day refinery in Kapolei.
The agreement is subject to customary regulatory approvals and is expected to be completed during the second half of 2016.
One Rock Capital Partners, New York, makes controlling investments in companies with potential for growth and operational improvement using an approach that utilizes highly experienced operating partners to identify, acquire and enhance businesses in select industries.
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