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Arco sells refinery and outlets to Atlantic Petroleum for 420 million
Atlantic Richfield Co. agreed to sell its Philadelphia refinery and 576 retail outlets plus 27 terminals in New York and Pennsylvania for 420 million to Atlantic Petroleum Corp. John Deuss owns Atlantic Petroleum, which will operate under the Atlantic brand and maintain many current staff. The sale, expected to close Aug 30, requires FTC and state PUC review due to a shared pipeline.
MENTIONED IN THIS ARTICLE
Philadelphia
Atlantic Richfield Co
New York
Pennsylvania
Arco
Atlantic Petroleum Corp
John Deuss
Deuss
Bermuda
Trans World Oil
Federal Trade Commission
State Public Utility Commission
Atlantic Petroleum
Los Angeles
Simmons
Trans World
Atlantic
Venezuela
Mexico
U.S
Atlantic Refining Co
Atlantic Refining and Richfield Oil Co