Williams sells MAPCO stores to Israeli fuel company

Williams Express Inc., a business unit of Williams, Tulsa, will sell its 198 MAPCO Express convenience stores to Israel Fuel Corp. for $147 million. In other news, Williams Bio-Energy LLC announced an agreement to market all fuel-grade ethanol produced by Quad County Corn Processors Cooperative, Galva, Iowa.

Apr 17th, 2001


By the OGJ Online Staff

HOUSTON, Apr. 17 -- Williams Express Inc., a business unit of Williams, Tulsa, Tuesday announced it will sell its 198 MAPCO Express convenience stores to Israel Fuel Corp., a Delek Group subsidiary, for $147 million .

In addition to the base purchase price, an undisclosed additional amount will be paid for fuel inventory, merchandise, and supplies. The agreement calls for the deal to close by May 30.

Williams previously had announced an agreement to sell the Tennessee-based chain of stores to Convenience USA Inc. But a provision in the earlier agreement allowed Delek the option of becoming the final purchaser of the stores, and Delek exercised its option.

In other news, Williams Bio-Energy LLC announced an agreement to market all fuel-grade ethanol produced by Quad County Corn Processors Cooperative, Galva, Iowa.

Financial terms of the Quad County agreement were not disclosed.

Williams said it is the second-largest US producer and marketer of ethanol.

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