Hess Corp. sells terminal network for $850M in cash to Buckeye Partners Hess Corporation (HES) has entered into an agreement with Buckeye Partners (BPL) to sell its U.S. East Coast and St. Lucia terminal network for a total consideration of $850M in cash. As a result of this sale, Hess is expected separately to release approximately $900M of working capital, with another $100M continuing to be retained by the retail business as part of its ongoing operations. The sale of the terminal network brings total year-to-date divestitures to $5.4B. The agreement is expected to close in Q4.
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