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Marathon Petroleum acquires 49.9% interest in LF Bioenergy

March 2023

Client(s) Marathon Petroleum Corporation

Jones Day advised Marathon Petroleum Corp. in the $50 million acquisition of a 49.9% interest in LF Bioenergy, an emerging producer of renewable natural gas (RNG) in the United States, from Cresta Fund Management. The agreement includes the potential for up to an additional $50 million based on the achievement of predetermined earn-out targets.

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