Delek to buy Chevron units' fuel marketing business

Delek Benelux BV agreed to buy a fuel marketing business from Chevron Corp.'s subsidiaries in Belgium, the Netherlands, and Luxembourg for $460 million.

By OGJ editors
HOUSTON, May 25 -- Delek Benelux BV agreed to buy a fuel marketing business from Chevron Corp.'s subsidiaries in Belgium, the Netherlands, and Luxembourg for $460 million.

The sale, subject to regulatory approval, is expected to close during the third quarter. Delek will acquire 803 Texaco-branded service stations, two fuel terminals in Belgium and Luxembourg, and interests in six joint venture retailers in the Netherlands.

Chevron will retain its lubricants, aviation, fuel, and marine marketing, and upstream businesses in Europe. Delek is a subsidiary of Delek Group Inc., which owns Delek Petroleum.

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