Petroplus Holdings AG announced that it has reached an agreement in principle with the Blackstone Group and First Reserve, its partners in PBF Energy Company LLC, for the sale of Petroplus’ 32.62% share of the company. The sale price is $91 million, and will result in a small gain on Petroplus’ investments in PBF to date. The transaction is subject to the execution of a definitive agreement, which is expected in the coming days. The transaction is expected to close in the fourth quarter of this year.