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UNOCAL COMPLETES SALE OF AUTO/TRUCKSTOP SYSTEM FOR $180 MILLION

 LOS ANGELES, April 15 /PRNewswire/ -- Unocal Corp. said today that its Union Oil Co. of California subsidiary has completed the sale of its national auto/truckstop system to National Auto/Truckstops Inc. for approximately $180 million.
 The sale included the transfer of Unocal's auto/truckstop network, consisting of 140 branded facilities located on interstate highways nationwide, to National Auto/Truckstops Inc. Of the 140 facilities, 97 were Unocal-owned locations with the remaining being marketer locations that will become a part of this new auto/truckstop network.
 National Auto/Truckstops Inc. is a newly formed company organized by Unocal's independent auto/truckstop operators and institutional investors led by the Clipper Group L.P. The new company intends to focus exclusively on the full-service auto/truckstop business and will continue to operate under the "76" trademark.
 Headquartered in New York, The Clipper Group L.P., is a private merchant banking partnership principally engaged in private equity, acquisition financings, recapitalizations and other principal transactions.
 This sale reflects Unocal's systematic effort over the past several years to enhance cash flow and profitability by divesting non-strategic assets, streamlining operations and focusing on the company's basic businesses. These businesses include oil, gas and geothermal exploration and production worldwide, petroleum refining and marketing in the western United States, and manufacturing and marketing of agricultural chemical products in the western United States and Pacific Rim.
 -0- 4/15/93 R
 /CONTACT: Barry Lane of Unocal, 213-977-7601, or Jeffrey Z. Taufield of Kekst and Co., 212-593-2655 for Unocal/


CO: Unocal ST: California IN: OIL SU: TNM

MS-JB -- LA015R -- 6229 04/15/93 12:04 EDT
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Publication:PR Newswire
Date:Apr 15, 1993
Words:266
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