Regulators clear sale of Shell assets to Tesoro
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Federal antitrust regulators have cleared the sale of Shell Oil Co.’s Wilmington refinery and 250 retail sites in Southern California to independent oil company Tesoro Corp.
According to a notice issued by the Federal Trade Commission, the government has completed its investigation of the sale and ended a waiting period on the transaction.
San Antonio-based Tesoro and Houston-based Shell, a division of Royal Dutch Shell, announced the sale Jan. 29. Shell said in January that the sale, valued at $1.63 billion, was part of a strategy to “streamline and concentrate” its assets.
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