DENVER—The Gary-Williams Co. says it has agreed to sell its subsidiary Gary-Williams Energy Corp. and related entities, including Wynnewood Refining Co., to CVR Energy Inc.
The companies said Wednesday that pending regulatory approvals, the sale is expected to close by the end of the year for $525 million, plus working capital, estimated at about $100 million.
The Gary-Williams Co. is based in Denver but has marketing and operations in Oklahoma.
CVR Energy, based in Sugar Land, Texas, said Wednesday it expects to keep all Oklahoma facilities and operations but transition out of the Denver office.
The Gary-Williams Co. says it has 276 Oklahoma employees, including 172 at the refinery that will be retained.
It has 65 employees in Denver, some of whom could be retained by The Gary-Williams Co.
