North Atlantic Refining to be sold to SilverRange Financial Partners
Korea National Oil Corp, owner of Calgary-based Harvest Operations Corp, has agreed to sell Harvest's ownership in North Atlantic Refining Ltd (NARL) for an undisclosed price. The buyer is New York merchant bank SilverRange Financial Partners, which will take control of NARL's refining and marketing businesses in Newfoundland. The refining business comprises a 115,000 barrel-per-day crude oil refinery, while the marketing business includes gas stations and other assets that sell petroleum products. The transaction is expected to be completed in the fourth quarter.
9 September 2014•4 mins read
