Nation & World: Valero Energy Corporation buys oil refinery in $625 million deal

September 1, 2011

MERAUX (AP) — Valero Energy Corp. agreed Thursday to acquire Murphy Oil Corp.’s refinery at Meraux for about $625 million.
The deal includes $325 million for the refinery and related assets and $300 million for the refinery’s current inventory. San Antonio-based Valero said it plans to fund the purchase from available cash and hopes to close the deal in the fourth quarter.

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