Marathon Petroleum to buy Hess's retail, transport business

Thu May 22, 2014 7:24am EDT

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May 22 (Reuters) - Refiner Marathon Petroleum Corp said it would buy oil and natural gas producer Hess Corp's retail business for about $2.87 billion.

The deal includes all of Hess's retail locations and transport operations.

"This acquisition ... will significantly expand our retail presence from nine to 23 states through these premier Hess locations throughout the East Coast and Southeast," Marathon Chief Executive Gary Heminger said. (Reporting by Sayantani Ghosh in Bangalore; Editing by Don Sebastian)

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