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70 Gas Stations Going for $67M

SACRAMENTO-Tesoro Petroleum Corp. enters into a definitive agreement to sell its 70 Northern California Beacon retail stations to three companies. The transaction is set to close in December.

By Michelle Savage | Updated on November 05, 2002

SACRAMENTO-Tesoro Petroleum Corporation, an independent refiner and marketer of petroleum products, has agreed to sell 70 Northern California retail stations for $67 million in cash, which includes associated working capital estimated at $5 million.

Teroso has signed separate sale and purchase agreements with USA Petroleum Corporation; Green Valley Gasoline L.L.C.; and Nella Oil Company, in association with Flyers L.L.C. The transaction does not require regulatory approval and is expected to close in December.

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