Calumet Specialty Products Partners, L.P., a refiner and processor of specialty hydrocarbon products, intends to sell its refinery located in Superior city, Wisconsin, the US, according to two people familiar with the matter said. The transaction is estimated to be valued at approximately US$500 million, according to one of the sources.
According to two other people familiar with the transaction said, Par Pacific Holdings Inc., HollyFrontier Corporation and Suncor Energy Inc. are the potential bidders for the transaction.
The refinery produces gasoline, diesel, asphalt and heavy fuel oils with the crude primarily supplied to the refinery through a pipeline and railcars of an Enbridge Inc. The refinery has aggregate crude oil throughput capacity of approximately 45,000 bd. The refined fuels produced are distributed by a Magellan pipeline as well as by tank trucks and railcars.
According to sources, Tudor, Pickering, Holt & Co., LLC has been retained by the company for the divestment of the refinery.