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News Breaks | | | | December 13, 2012 | | 06:34 EDT |  | TSO | Tesoro upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse upgraded Tesoro based on expectations the BP Carson City deal will close, long-term EBITDA, and a seasonal recovery in West Coast cracks. Price target raised to $60 from $53. | |
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News For TSO From The Last 14 Days Check below for free stories on TSO the last two weeks. |
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| June 17, 2013 | | 17:33 EDT |  | TSO | Tesoro announces sale of Hawaii operations
Tesoro announced that it has signed an agreement with a wholly owned subsidiary of Par Petroleum Corporation to sell all of its interest in Tesoro Hawaii, which operates the 94,000 barrel per day Kapolei refinery, retail stations and associated logistical assets. As part of the agreement, Par Petroleum intends to operate the assets as an integrated refining, logistics and retail system. The sales price of the Hawaii operations is $75M, plus the market value of net working capital, which is expected to be approximately $225M-$275M. Also included is an earn-out arrangement payable over three years up to $40M based on consolidated gross margins. Tesoro anticipates completing the sale in the third quarter, subject to regulatory approval. Aegis Energy Advisors Corp. and Norton Rose Fulbright advised Tesoro in this transaction. | | | 16:07 EDT | | TSO | Tesoro Logistics confirms FTC clearance for purchase of Chevron system
 Subscribe for More Information | | | 15:35 EDT | | TSO | FTC requires Tesoro to sell petroleum terminal for Chevron deal
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