Marathon selling Minnesota oil refinery in $4.2 billion deal

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Marathon Petroleum is selling its oil refinery in St. Paul Park, and another in North Dakota, to Texas-based CVR Energy. The deal is valued at $4.2 billion.

Marathon Petroleum is selling its oil refinery in St. Paul Park, and another in North Dakota, in a deal valued at $4.2 billion.

The buyer is Texas-based CVR Energy. The two companies announced the sale on Tuesday.

“We are thrilled to deliver on our plan to strategically grow and diversify our business. We are acquiring two well-maintained, highly productive refineries from Marathon,” Dane Neumann, president and CEO of CVR Energy, said in a news release. “Marathon has been an excellent steward of the...