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Oaktree to acquire Hess Energy Trading

Oct 28, 2014 - The Deal Pipeline
Mergers and Acquisitions

Hess Energy Trading Co. LLC, a unit of New York oil and gas explorer Hess Corp. (HES), said Monday, Oct. 27, it is being acquired by an affiliate of Oaktree Capital Management LP for an undisclosed sum, the latest asset sale as part of Hess' divestiture program.

An Oaktree spokeswoman declined to give additional information beyond what was in the press release.

Oaktree will provide an undisclosed amount of initial working capital to the trading business, which is known as Hetco, and ...