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Philadelphia Energy Solutions Announces Strategic Process

Aug 29, 2019 - Business Wire

This past week, Philadelphia Energy Solutions (PES) announced the commencement of a structured process to solicit the level of interest held by the large number of parties that have expressed a desire to potentially acquire PES and/or all or a portion of its assets. PES has retained PJT Partners (PJT) as its investment banker to assist with this process.

In addition to the potential sales transaction, PES is also evaluating a number of strategic alternatives to maximize value for its stake...