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New Deal


Announced

Marathon Petroleum to acquire a 49.99% stake in LF Bioenergy in Cresta Fund Management for $50m.

Financials

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Transaction Value£41m
Consideration TypeCash, Contingent Deferred Consideration
Capital Owned-
Capital Bid For50%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Single Bidder

Alternative Fuels

renewable natural gas

Pending

Minority

Acquisition

Domestic

United States

Friendly

Private

Private Equity

Synopsis

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Marathon Petroleum, an integrated, downstream energy company headquartered in Findlay, Ohio, agreed to acquire a 49.99% stake in LF Bioenergy, an emerging producer of renewable natural gas, in Cresta Fund Management, a value-added, middle market-focused firm investing in sustainable and conventional infrastructure projects, for $50m. "This RNG transaction demonstrates our commitment to lower carbon investments. This platform will create the opportunity for further integration and advances MPC's goal to lower the carbon intensity of its operations and the products it offers," Dave Heppner, MPC Senior Vice President of Strategy and Business Development.

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