ACON Investments and TPG Capital have agreed to acquire the majority of the Minnesota downstream assets of Marathon Oil (NYSE: MRO) in a deal valued at $900 million. The firms could also pay Marathon an additional $125 million in earnout payments over eight years, or they could receive up to $60 million of marginal support from Marathon. The transaction includes the 74,000 barrel per day St. Paul Park refinery, a stake in the Minnesota Pipe Line, 166 SuperAmerica convenience stores, SuperMom's and SuperAmerica Franchising.
