The acquired contracts represent approximately 300 Shell-branded stations.
Under the agreement, Tesoro may also grow the Shell brand through retail stations in these areas, which are anchored by the company’s refineries in Mandan, North Dakota, and Salt Lake City, Utah.
The transaction will become effective by 1 January 2011, and post closing, the number of Shell-branded stations within the Tesoro retail system is expected to be approximately 650.
