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SACRAMENTO-Tesoro Petroleum Corporation, an independent refiner and marketer of petroleum products, has agreed to sell 70 Northern California retail stations for $67 million in cash, which includes associated working capital estimated at $5 million.

Teroso has signed separate sale and purchase agreements with USA Petroleum Corporation; Green Valley Gasoline L.L.C.; and Nella Oil Company, in association with Flyers L.L.C. The transaction does not require regulatory approval and is expected to close in December.

The retail stations include 12 Sacramento region Beacon gas stations and 58 others across Northern California. The stations were acquired by Tesoro as part of its $1.08 billion purchase of Valero Energy Corp.’s Golden eagle refinery in Martinez. The Fortune 500 company subsequently announced a $500 million debt reduction program that involves selling $200 million in assets, including the Beacon stations.

The company will not release the details regarding which buyers will purchase which gas stations until the deals close in December. The company, which operates six refineries in the western United States and markets fuel at more than 750 branded retail stations, is also negotiating with Williams Energy Partners and the Federal Trade Commission regarding the FTC’s approval of WEG’s proposed acquisition of Tesoro’s Northern Great Plains Product System.

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