Valero Energy Corporation announced that it has completed its transaction of Chevron’s Pembroke refinery in Wales, U.K., as well as extensive marketing and logistics assets throughout the United Kingdom and Ireland. The purchase price was $730 million, excluding working capital, and was funded from available cash.

“We have been looking for several years at available downstream assets in western Europe that would expand our geographic footprint,” said Joe Gorder, Valero’s President for Europe. “We believe this acquisition fits perfectly, and that we are acquiring one of the finest refining, marketing and logistics operations in all Europe.”

To see the Pembroke Refinery site