Connacher Oil and Gas (CLLZF.PK -12.1%) says it will sell its Montana refinery to Calumet Specialty Products (CLMT +1%) for ~$120M plus working capital, a deal that adds crude oil throughput capacity of ~9,800 bbl/day for CLMT. Connacher, deeply in debt, hopes the asset sale will enable it to survive long enough to find a buyer for the Canadian company.
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