The joint venture between Sunoco and the investment firm The Carlyle Group keeps the refinery and its 850 jobs alive.
Sunoco’s South Philadelphia refinery — slated to close next month — will remain open under a deal announced on Monday. 850 jobs are being saved by the deal.
A Texas-based energy company has offered to buy Sunoco for $5.3 billion but says it will keep a strong Philadelphia presence.
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