Pilot Corp., the controlling partner in Pilot Travel Centers LLC, announced it is selling a 47.5 percent interest in the travel center network to CVC Capital Partners, an international private equity firm. The sale follows Pilot’s buyout of Marathon Oil Corp.’s 50 percent ownership in Pilot Travel Centers.

Knoxville, Tenn.-based Pilot Corp. would hold a 52.5 percent interest in Pilot Travel Centers. Pilot’s convenience store operations continue to be 100 percent owned by Pilot Corp. The current management, led by CEO James A. Haslam III, would continue to manage the business on a day-to-day basis.

CVC’s investment facilitates the sale by Marathon of its interest in Pilot Travel Centers which the integrated oil company has held since the travel center network was formed in 2001. Marathon would receive $700 million for its share of the partnership if the deal closes as planned later this month.

Tesoro Corp.’s operating subsidiary, Tesoro Refining and Marketing Co., has filed a lawsuit against the California Air Resources Board to prevent the implementation of a new regulation which would mandate an increase in the amount of ethanol in gasoline from 5.7 percent to 10 percent by Dec. 31, 2009. The company is seeking a temporary injunction to stop enforcement of the rule while the lawsuit is being heard.

On Aug. 29 CARB finalized the rule concerning gasoline specifications for the State of California.

Tesoro expects a ruling on the temporary injunction in the next 30 to 60 days, while a final ruling should be completed within the year.