Chevron Corp. to sell Hawaii stations, Pacific Business News reports
Chevron Corp. plans to sell its refinery and retail gas stations in Hawaii by the third quarter of this year, according to a recent report by Pacific Business News.
The California-based company had already announced in September it was looking for a buyer for its Hawaii operations and Pacific Business News learned from a source close to the deal that a transaction is imminent by the third quarter as all offers exceeded Chevron’s minimum price.
An industry source told PBN that the “real prize” of the purchase were the stations as opposed to a refinery which could be converted into an import terminal.
Chevron officials told PBN that it was a long process in which they could not confirm or deny such reports. Deutsche Bank is in charge of selecting potential buyers.
