Cresta Fund Management to acquire a stake in the Come-by-Chance refinery from North Atlantic Refining.

Cresta Fund Management, a private equity firm, agreed to acquire a stake in the Come-by-Chance refinery from North Atlantic Refining, a petroleum company based in Newfoundland and Labrador. Financial terms were not disclosed. The refinery has been idled for more than a year. Several refiners since then have announced plans to convert their operations to renewable fuels production to remain viable as both Canada and the United States try to reduce carbon emissions.