OGDEN, Utah — Flying J Inc. and its subsidiary Big West of California LLC said Tuesday that they have agreed to sell their interest in the Bakersfield Refinery to Paramount Petroleum Corp., a subsidiary of Alon Energy USA Inc.
Completion of the acquisition is subject to a bankruptcy court approved auction process, bankruptcy court approval and other customary regulatory approvals. Paramount will be the “stalking horse” bidder in the bankruptcy auction process for the refinery, according to a Flying J statement.
The purchase price for the refinery is $40 million plus the fair market value of inventory. Non-permitted Clean Fuels Project equipment and a buffer parcel of property (approximately 250 acres) were excluded from the transaction. The agreement also includes an assumption of environmental clean up obligations, Flying J said.
Kevin Jones of The Trucker staff can be reached for comment at firstname.lastname@example.org.
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