DLA Piper has advised BP on the more than $2.4bn (£1.6bn) sale of its southern California refining and marketing business to San Antonio-based refiner Tesoro. The deal closed on 1 June after receiving clearance from both federal and California regulators.
Under the terms of the deal, Tesoro acquired the Carson refinery, the ARCO brand and more than 800 retail gas stations in southern California, Nevada and Arizona. Tesoro also acquired an integrated logistics system consisting of marine port facilities, multiple petroleum terminals, pipelines and related assets.
DLA Piper’s multi-disciplinary team representing BP involved lawyers across its US offices, including Gregory Dahlgren (Chicago) who led the transaction, with assistance from Dennis Wieczorek (Chicago) on franchise law matters, Caryn Englander (Chicago) and Paul Shadle (Chicago) on real-estate matters, Matthew Covington (San Francisco) on environmental matters and Jason Levin (Chicago) on intellectual property matters.